Table 13-17
$\begin{array}{|c|c|c|}
\hline \text { Year } & \begin{array}{c}
\text { Nominal Average } \
\text { Hourly Earnings }
\end{array} & \begin{array}{c}
\text { CPI } \
(\mathbf{1 9 8 2 - 1 9 8 4}=\mathbf{1 0 0})
\end{array} \
\hline 2016 & \$ 10 & 188.9 \
\hline 2017 & 11 & 195.3 \
\hline 2018 & 13 & 201.6 \
\hline
\end{array}$
-Refer to Table 13-17.Looking at the table above,real average hourly earnings in 2017 were
A) $3.67.
B) $5.63.
C) $10.24.
D) $11.37.

Question

Table 13-17
 $\begin{array}{|c|c|c|}
\hline \text { Year } & \begin{array}{c}
\text { Nominal Average } \
\text { Hourly Earnings }
\end{array} & \begin{array}{c}
\text { CPI } \
(\mathbf{1 9 8 2 - 1 9 8 4}=\mathbf{1 0 0})
\end{array} \
\hline 2016 & \$ 10 & 188.9 \
\hline 2017 & 11 & 195.3 \
\hline 2018 & 13 & 201.6 \
\hline
\end{array}$
-Refer to Table 13-17.Looking at the table above,real average hourly earnings in 2017 were
A) $3.67.
B) $5.63.
C) $10.24.
D) $11.37.

Quizplus · Accepted Answer

Real average hourly earnings are calculated by dividing nominal earnings by the CPI and then multiplying by 100. For 2017: $ \frac{11}{195.3} \times 100 \approx 5.63 $.

Table 13-17 -Refer to Table 13-17