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29.07.2021 16:40
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If the average wage paid to the worker was $20 in the year 1990 and $30 in the year

If the average wage paid to the worker was $20 in the year 1990 and $30 in the year 2000, then the average worker in the year 2000 must have been better off in terms of purchasing power. Group of answer choices True False
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bossdde
bossdde
4,7(56 marks)

False

Explanation:

Purchasing power is related to real income and not to nominal income. Even though workers had a $10 increase in their average nominal income, due to the effects of inflation, that increase does not necessarily reflect an improve in purchasing power.

The statement is false.

Werkrat2756
Werkrat2756
4,4(64 marks)
6(4.25) + 3(6.75) = 25.50 + 20.25 = 45.75

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