[Solved] Suppose the Nominal Wage Is $30 Per Hour and the Price

Question 128
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Suppose the nominal wage is $30 per hour and the price level is 1.5.
a)What is the real wage rate?
b)If the nominal wage increased by 5%,what is the new value of the real wage rate?
c)If the price level increased by 5%,what is the new value of the real wage rate?
d)If,instead,both the price level and nominal wage increased by 5%,what is the new value of the real wage rate?

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