In 1988, the average wage rate was $9.45 an hour and in 2008 the average wage rate

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In 1988, the average wage rate was $9.45 an hour and in 2008 the average wage rate was $18.00 an hour. The CPI in 1988 was 118.3 and in 2008 it was 215.3. Which real wage rate is higher?

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: May 21, 2018 05:53 AM

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In 1988, the average wage rate was $9.45 an hour and in 2008 the average wage rate

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Foundations of Macroeconomics

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