Use the data given in question 61 to compute the change in real wages between 1987 and
Question:
Use the data given in question 61 to compute the change in real wages between 1987 and 1991. Are workers any better off?
Question 61
Suppose you are given the following information about wages and prices for 5 years.
(a) Compute the change in real salaries between 1988 and 1989.
(b) Are workers any better off in 1989 than they were in 1988?
Transcribed Image Text:
Year 1987 1988 1989 1990 1991 Annual salary $38,202 39,837 41,001 41,327 55,943 Consumer price index 95 100 108 125 200
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Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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