Question

An associate professor of physics gets a $200 a month raise. She figures that with her new monthly salary she can buy more goods and services than she could buy last year.

Answer 1

Her real salary has fallen and her nominal salary has risen. option (d) is correct .

What is called wage?

• A wage is money that is paid by an employer to an employee in exchange for work.
• The amount may be fixed for each task completed (this is called piece rate); or it may be based on time or other measurable quantity of work done.
• Work for wages is the most common form of work.

Her real salary has fallen and her nominal salary has risen.

Reason - She can generate lesser goods so her real wage decreases and $200 leads to increase in nominal salary .

So,  option (d) is correct .

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The complete question is -

An associate professor of physics gets a $200 a month raise. With her new monthly salary she can buy more goods and services than she could buy last year. a. Her real and nominal salary have risen. b. Her real and nominal salary have fallen. c. Her real salary has risen and her nominal salary has fallen. d. Her real salary has fallen and her nominal salary has risen.