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Author Question: Using Price Indexes to Correct for InflationYearNominal Average Hourly EarningsCPI 1$12100 214110 ... (Read 22 times)

dongbo

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on: Nov 23, 2022

Question 1

Using Price Indexes to Correct for Inflation



Year		Nominal Average Hourly Earnings
CPI
       1$10​100
       214​108​
       317​117​

Based on the data in the table, real average hourly earnings in Year 2 were ________.
◦ $15.12
◦ $12.96
◦ $7.71
◦ $18.00

Question 2

Using Price Indexes to Correct for Inflation



Year		Nominal Average Hourly Earnings
CPI
       1$12​100
       214​110​
       318​115​

Based on the data in the table, the rate of growth of real average hourly earnings from Year 2 to Year 3 is ________. (Round to the nearest tenth when appropriate.)
◦ 23.0%
◦ 4.5%
◦ 10.5%
◦ 28.6%
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by dongbo on Nov 23, 2022

rika06@comcast.net

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Reply #1 on: Nov 23, 2022
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dongbo

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)

kswal303

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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