Question: Study the following data and answer the questions that follow. 1 In which year was there the largest increase in real wages? Explain your answer.

Study the following data and answer the questions that follow.

Year Inflation rate (%) Wage increase (%) 1 2.5 3.0 2 3.1

1 In which year was there the largest increase in real wages? Explain your answer.

2 Explain why average wages were higher in Year 3 than Year 2.

Year Inflation rate (%) Wage increase (%) 1 2.5 3.0 2 3.1 3.5 3 2.9 3.1

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