Which of the following formulas would you use to calculate the nominal wage rate?
A) nominal wage rate = real wage rate ÷ CPI
B) nominal wage rate = real wage rate × CPI
C) nominal wage rate = (real wage rate × CPI) ÷ 100
D) nominal wage rate = (real wage rate × CPI) × 100
E) nominal wage rate = (real wage rate ÷ CPI) × 100
Correct Answer:
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