Waec Model Questions Vol1 2019 Economics Question 1
Practice objective / multiple choice question 1 from the 2019 Waec Model Questions Vol1 Economics examination.
In 2020 the Consumer Price Index (CPI) was 112 and in 2021 it rose to 118. A worker earned a nominal wage of ₦48,000 in 2020. What percentage increase in the nominal wage is required in 2021 so that the worker's real wage remains the same as in 2020?
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About This Question
This is Waec Model Questions Vol1 2019 Economics Question 1. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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