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Time:  90–120 minutes Instructions: Answer all five questions . Use complete sentences Show all calculations Use clear economic reasoning and vocabulary Label formulas and steps where applicable ✏️ Essay Questions 1. Inflation vs. Wage Growth A worker earns $52,000 annually  and receives a 0.55% annual raise  while inflation averages 3% per year . Tasks: Calculate the worker’s nominal salary  after 5 years Calculate the worker’s real income  after adjusting for inflation Dete