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3.4 Price stability

3.4 Price stability

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Question 11

A worker receives a 7% nominal pay rise while prices rise by 4%. Which conclusion is most accurate?

[1]
A

Real pay falls by exactly 11%

B

Purchasing power is unchanged

C

Real pay rises by approximately 3%

D

Nominal pay has fallen

Markscheme

3.4 Price stability Questions

  1. GCSE
  2. /Economics
  3. /3.4 Price stability

30 exam-style questions on OCR GCSE Economics 3.4 Price stability, covering 3.4.1 Price stability and inflation, 3.4.2 Measuring inflation with CPI, 3.4.3 Calculate the effect of inflation, 3.4.4 Analyse inflation figures, and 3.4.5 Causes and consequences of inflation. Each one has a worked solution and a mark scheme showing where the marks go.

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