In year 7, average nominal wages were $18.50 per hour and the consumer price index (CPI) was 111.00. In year 8, average nominal wages were $19.00 per hour and the CPI was 115.00. Calculate the real wage in year 8.

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.