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14 December, 13:37

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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  1. 14 December, 16:28
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    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.
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