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A worker is paid a nominal wage of $20/hour in 2008 which increased to $25/hour in 2009. Inflation increased 4% between 2008 and 2009. If 2008 is considered the base year, normalize the base year price as 100, and using the price deflator, calculate the worker's real wage in 2009 (in 2008 dollars).

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A worker is paid a nominal wage of $20/hour in 2008 which increased to $25/hour in 2009. Inflation increased 4% between 2008 and 2009. If 2008 is considered the base year, normalize the base year price as 100, and using the price deflator, calculate the worker's real wage in 2009 (in 2008 dollars).





 
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