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LABOR MARKET, WAGES]
Multiple choice questions on related to real Multiple choice questions related to
real wages, nominal wages, productivity, wage growth, purely competitive
labor market, employment.
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1. Assume that initially your nominal wage was $15 an hour and the price index was 100. If the
price level increases to 105, then your:
a. nominal wage has decreased to $12.36.
b. real wage has decreased to $14.29.
c. nominal wage has increased to $15.75.
d. real wage has decreased to $12.36.
2. Productivity measures (such as output per worker-hour) and wage rates adjusted for inflation
in the United States are:
a. inversely related.
b. directly, but not closely, related.
d. directly and closely related.
3. Which is a valid explana