Question: The nominal wage increases from $ 2 0 , 0 0 0 to $ 2 1 , 0 0 0 while the price of a

The nominal wage increases from $20,000 to $21,000 while the price of a car increases by 7%. In this case, the percentage change in the real annual wage (in terms of cars) is about
Multiple Choice
-1%.
-2%
2%.
5%.
The nominal wage increases from $ 2 0 , 0 0 0 to

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