You are working at the campus bookstore earning $9.00 per hour. Your manager tells you that in
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You are working at the campus bookstore earning $9.00 per hour. Your manager tells you that in the upcoming year you will get a 2% raise. How does your real wage change if inflation next year is 1%, 2%, or 3%? What flexibility does inflation provide employers, especially during prolonged economic downturns?
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