Q 166

To calculate real wages in Year 1,it is correct to divide nominal wages in Year 1 by the CPI in year 1,and multiply the resultant figure by 100.

Q 167

Assume that the CPI in 2018 was 217,while the CPI in 1990 was 82.If a person had $6000 in 1990,its equivalent purchasing power in 2018 would be $10 850.

Q 168

Using the following table,calculate real average hourly earnings for 2016,2017,and 2018.Calculate the rate of growth of real average hourly earnings from 2017 to 2018.
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