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Author Question: Suppose the price level increases by 5 percent and the nominal wages of workers increase by 3 ... (Read 21 times)

Themember4

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on: Jun 30, 2018
Suppose the price level increases by 5 percent and the nominal wages of workers increase by 3 percent during a particular year. This implies that the real wage has:
 a. declined by 2 percent.
 b. declined by 8 percent.
 c. also increased by 2 percent.
  d. also increased by 8 percent.
  e. remained constant.

Question 2

The opportunity cost of holding money increases when:
 a. the interest rate rises.
 b. the interest rate falls.
 c. the price level falls.
 d. nominal GDP rises.
 e. nominal GDP falls.


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duy1981999

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


Themember4

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Reply #2 on: Jun 30, 2018
Thank you


duy1981999

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Reply #3 on: Jun 30, 2018
No problemo


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