-The trends displayed in the table can best be explained by
A) the nominal wage rate has increased at a rate about equal to the inflation rate.
B) the real wage rate has increased at a rate about equal to the inflation rate.
C) service industries have increased as a proportion of the economy and they tend to have higher nominal wage rates.
D) the inflation rate has been rising over the time period.
E) None of the above can explain the trends in the figure.
Correct Answer:
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