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In 1993,the Base Year,you Were Earning $400/week

Question 3

Multiple Choice

In 1993,the base year,you were earning $400/week.Your wages rose to $550 in 2001,the current year,when the Consumer Price Index stood at 137.5.What statement can you make about what happened to your real wages over this period?


A) They rose.
B) They fell.
C) They remained the same.
D) There is not enough information to determine whether they rose,fell,or remained the same.

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