The real wage in Fantasyland has been constant since 1950. The nominal
The real wage in Fantasyland has been constant since 1950. The nominal wage in 2015 was $100, and the Consumer Price Index (CPI) was 200 in 2015. What was the nominal wage in 2002 if the CPI was 50 in 2002?
A) Nominal wage = $25
B) Nominal wage = $400
C) Nominal wage = $100
D) Nominal wage = $250
ANSWER
A
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