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vladimir2022 [97]
2 years ago
13

If actual inflation is currently equal to 6%, and your nominal wage decreases by 4%, your real wage is __________.

Business
1 answer:
r-ruslan [8.4K]2 years ago
7 0

Answer:

decreases by 10%

Explanation:

real wage = nominal wage - inflation rate

if nominal wage decreased by 4% and inflation was 6%, then:

real wage = -4% - 6% = -10%

Real wages are nominal wages adjusted to inflation. Inflation represents a rise in the general price level which decreases the purchasing power.

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3 years ago
A steel mill raises the price of steel by 7% which results in a 20% reduction in the quantity of steel demanded. The demand curv
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Answer:

Elastic demand

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Which of the following is true of email?
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Answer:D

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2 years ago
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katrin2010 [14]

Answer:

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