19- In 2000 a minimum wage worker earned 119 TL whereas a minimum wage worker in 2020 earned 2943 TL. The price level in 2000 was 20.5 and it equaled 263 in 2020. Using these numbers you can conclude that a) O The purchasing power of the minimum wage worker roughly doubled in Turkey from 2000 to 2020 b) O There was no change in real income of the minimum wage worker over 20 years C) O The purchasing power of the minimum wage worker was higher in 2000 than in 2020. d) O The purchasing power of the minimum wage worker increased by almost a factor of 25 in Turkey from 2000 to 2020

19- In 2000 a minimum wage worker earned 119 TL whereas a minimum wage worker in 2020 earned 2943 TL. The price level in 2000 was 20.5 and it equaled 263 in 2020. Using these numbers you can conclude that a) O The purchasing power of the minimum wage worker roughly doubled in Turkey from 2000 to 2020 b) O There was no change in real income of the minimum wage worker over 20 years C) O The purchasing power of the minimum wage worker was higher in 2000 than in 2020. d) O The purchasing power of the minimum wage worker increased by almost a factor of 25 in Turkey from 2000 to 2020

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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