(14 of 15) Suppose that in 2015 your salary was 40,000, and the CPI was 175. Further suppose that in 2016, your salary increased to $41,200, and the CPI increased to 179. Which of the following statements is true? Your nominal wage and real wage both increased. Your nominal wage and real wage both decreased. Your nominal wage remained the same while your real wage increased. O Your nominal wage decreased while your real wage increased. O Your nominal wage increased while your real wage remained the same.

(14 of 15) Suppose that in 2015 your salary was 40,000, and the CPI was 175. Further suppose that in 2016, your salary increased to $41,200, and the CPI increased to 179. Which of the following statements is true? Your nominal wage and real wage both increased. Your nominal wage and real wage both decreased. Your nominal wage remained the same while your real wage increased. O Your nominal wage decreased while your real wage increased. O Your nominal wage increased while your real wage remained the same.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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