Author Question: In a particular year, if the price level rises by 4 percent and the nominal wage of workers rises by ... (Read 103 times)

brutforce · **on:** Jun 30, 2018

In a particular year, if the price level rises by 4 percent and the nominal wage of workers rises by 6 percent, we can conclude that the real wage has:
a. fallen by 2 percent.
b. fallen by 10 percent.
c. increased by 2 percent.
d. increased by 10 percent.
e. remained constant.

Question 2

The demand for money is based primarily on money's role as a(n):
a. measure of wealth.
b. medium of exchange.
c. standard of economic well-being.
d. interest-bearing asset.
e. non-interest-bearing asset.