Nominal wages and productivity increased

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Reference no: EM13982127

If nominal wages rose 1.5% and productivity increased 3% in a given year, we should expect:

a. an increase in unit labor costs and upward pressure on prices

b. an increase in unit labor costs and downward pressure on prices

c. a decrease in unit labor costs and upward pressure on prices

d. a decrease in unit labor costs and downward pressure on prices

Reference no: EM13982127

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