The Consumer Price Index and average annual wages in selected industries were as shown in the table.

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Average Wages ($/Hour) CPI Retail (1982–84 Manufacturing Mining Services Trade =100) $7.27 $9.17 $5.85 $4.88 1980 82.4

From 1980 to 2001, the average wages went up for workers in all four industries. However, which wage earning groups fared best and worst in terms of their percentage change in spending power during this period?

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Introduction To Business Statistics

ISBN: 9780324381436

6th Edition

Authors: Ronald M. Weiers

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Question Posted: Jun 09, 2018 05:41 AM

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The Consumer Price Index and average annual wages in selected industries were as shown in the table.

Question:

Average Wages ($/Hour) CPI Retail (1982–84 Manufacturing Mining Services Trade =100) $7.27 $9.17 $5.85 $4.88 1980 82.4 9.54 11.98 1985 7.90 5.94 107.6 2001 14.84 17.65 14.61 9.82 177.1

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To determine which earner groups fared best and worst in terms of their percentage change in spendin...View the full answer

Introduction To Business Statistics

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