7. Sarah’s wage is $18 per hour and the CPI is 207 in this year. Suppose, she gets paid at $20 per hour and the CPI rises to 232.3 next year. What has happened to her nominal and real wages?
A. Her nominal wage has increased but her real wage has not changed.
B. Her nominal wage has increased but her real wage has declined.
C. Her real and nominal wages have each increased by the same percentage.
D. Her real wage has increased by a larger percentage than her nominal wage.

Question

05-10-2022
Business

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7. Sarah’s wage is $18 per hour and the CPI is 207 in this year. Suppose, she gets paid at $20 per hour and the CPI rises to 232.3 next year. What has happened to her nominal and real wages?
A. Her nominal wage has increased but her real wage has not changed.
B. Her nominal wage has increased but her real wage has declined.
C. Her real and nominal wages have each increased by the same percentage.
D. Her real wage has increased by a larger percentage than her nominal wage.

Sagot :

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