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Author Question: Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases ... (Read 71 times)

jCorn1234

  • Hero Member
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  • Posts: 545
on: Jun 30, 2018
Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases from 20 to 24 . Based on this information, we can conclude that the price level has:
 a. increased by 20 percent.
  b. increased by 25 percent.
  c. remained unchanged.
 d. decreased by 10 percent.
  e. decreased by 20 percent.

Question 2

The opportunity cost of holding money is measured by the:
 a. interest rate.
 b. liquidity lost by holding money.
 c. money supply curve.
 d. inflation rate.
 e. cost of cashing in financial assets.


bassamabas

  • Sr. Member
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  • Posts: 294
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


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