Registered nurses in 2007 made an average hourly wage of $30.04. In 2011, their hourly wage had risen to $33.23. Given that the CPI for 2007 was 207.3 and the 2011 CPI was 224.9, answer the following.
a. Give the real wages for registered nurses for 2007 and 2011 by deflating the hourly wage rates.
b. What is the percentage change in the actual hourly wage for registered nurses from 2007 to 2011?
c. For registered nurses, what was the percentage change in real wages from 2007 to 2011?