if a worker receives a raise in their nominal wage from $10 t0 $15 per hour at the same time the price level doubles, the worker's real rage has approximately: A: increased by 50% B: Incerased by 100% C: dECREASED BY 50% D: Decreased by 33% with explanation
if a worker receives a raise in their nominal wage from $10 t0 $15 per hour at the same time the price level doubles, the worker's real rage has approximately: A: increased by 50% B: Incerased by 100% C: dECREASED BY 50% D: Decreased by 33% with explanation
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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if a worker receives a raise in their nominal wage from $10 t0 $15 per hour at the same time the
A: increased by 50%
B: Incerased by 100%
C: dECREASED BY 50%
D: Decreased by 33%
with explanation
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