Advanced Placement (AP), 15.04.2021 16:40 diamondalize21p84czi

Let's say I make $100 for my wage, and every week I buy a basket of goods (cheese, meat, milk, etc.) that costs $100. Now let's imagine next week I get a 30% increase in my wages. But inflation also increases that week by 25%. Has my nominal wage increased or decreased? Has my real wage increased or decreased? Explain your reasoning/answer.

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Let's say I make $100 for my wage, and every week I buy a basket of goods (cheese, meat, milk, etc.)...