Use the data in Tables 1.9 and 1.10 to determine the a. 1970 wage in 2010 dollars.
Question:
Use the data in Tables 1.9 and 1.10 to determine the
a. 1970 wage in 2010 dollars.
b. Percentage change in real wages between 1970 and 2010.
Transcribed Image Text:
Table 1.9: Consumer Price Index (CPI = 100 in 1967) 1970 1980 1990 2000 2010 116.3 246.8 391.4 515.8 653.2 Table 1.10: Average Hourly Earnings 1970 $3.40 1980 $6.85 1990 $10.20 2000 $14.02 2010 $19.07
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Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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