Calculate the total percentage change in real weekly earnings (excluding benefits) from 2000 to 2005 using the
Question:
Calculate the total percentage change in real weekly earnings (excluding benefits) from 2000 to 2005 using the last column of Table 2. Compare your answer to the answer in problem 3. Which is the more accurate answer?
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TABLE 2 Real Weekly Earnings (1983 dollars) Nominal and Real Weekly Earnings (December of Each Year) Nominal Weekly Earnings Year CPI $312 1980 $269 86.3 $318 1985 $348 109.3 $312 1990 $417 133.8 1995 $482 153.5 $314 $581 2000 174.0 $334 2005 $658 196.8 $334 2010 $751 219.2 $343 Source: Bureau of Labor Statistics, Scattetical Tables, hapolwww.bisgov. Earnings and CPI data for 4th quarter and Decambar of each yar, respactivaly. Earnings: Medan usual woskly earnings of waga and salary workers amployed ful time. CPI: CPIU (All Urban Consumen).
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Using the following table the percentage change in the real wage was 3433...View the full answer
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Macroeconomics Principles and Applications
ISBN: 978-1111822354
6th edition
Authors: Robert E. Hall, Marc Lieberman
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