6. Taylor just received a 3% pay increase but the current rate of inflation is 4%. We can say that Taylor’s real wage has Select one: a. remained the same b. fallen by 1% c. risen by 1%.
6. Taylor just received a 3% pay increase but the current rate of inflation is 4%. We can say that Taylor’s real wage has Select one: a. remained the same b. fallen by 1% c. risen by 1%.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
6.
Taylor just received a 3% pay increase but the current rate of inflation is 4%. We can say that Taylor’s real wage has
Select one:
a. remained the same
b. fallen by 1%
c. risen by 1%.
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