Assume that your nominal wage was fixed at $12 an hour, and the price index rose from 102 to 105. In this case, your real wage has
A)decreased to $11.76.
B)increased to $11.76.
C)decreased to $11.43.
D)increased to $11.43.

Question

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The Answer of Assume that your nominal wage was fixed at $12 an hour, and the price index rose from 102 to 105. In this case, your real wage has
A)decreased to $11.76.
B)increased to $11.76.
C)decreased to $11.43.
D)increased to $11.43.

Assume That Your Nominal Wage Was Fixed at $12 an Hour