Suppose you are given the following information about wages and prices for 5 years. (a) Compute the
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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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