Average hourly earnings in the U.S. economy during several past years were as follows: Use the CPI

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Average hourly earnings in the U.S. economy during several past years were as follows:

Use the CPI numbers provided on the inside back cover of this book to calculate the real wage (in 1982€“1984 dollars) for each of these years. Which decade had the fastest growth of money wages? Which had the fastest growth of realwages?

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Macroeconomics Principles And Policy

ISBN: 9780324586213

11th Edition

Authors: William J. Baumol, Alan S. Blinder

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Question Posted: Sep 01, 2012 02:44 AM

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Average hourly earnings in the U.S. economy during several past years were as follows: Use the CPI

Question:

1990 2000 1980 1970 $3.23 $6.66 $10.01 $13.75

Step by Step Answer:

1970 1980 1990 2000 Money wages 323 666 1001 1375 CPI 388 824 13...View the full answer

Macroeconomics Principles And Policy

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