Your nominal wage increases from $12 per hour to $13 per hour.At the same time,the price level increases from 140 to 147.As a result,
A)The number of dollars you receive increases and the purchasing power of the dollars you receive increases.
B)The number of dollars you receive increases and the purchasing power of the dollars you receive decreases.
C)The number of dollars you receive decreases and the purchasing power of the dollars you receive increases.
D)The number of dollars you receive decreases and the purchasing power of the dollars you receive decreases.

Question

Quizplus · Accepted Answer

The Answer of Your nominal wage increases from $12 per hour to $13 per hour.At the same time,the price level increases from 140 to 147.As a result,
A)The number of dollars you receive increases and the purchasing power of the dollars you receive increases.
B)The number of dollars you receive increases and the purchasing power of the dollars you receive decreases.
C)The number of dollars you receive decreases and the purchasing power of the dollars you receive increases.
D)The number of dollars you receive decreases and the purchasing power of the dollars you receive decreases.

Your Nominal Wage Increases from $12 Per Hour to $13