7. *In 1982, the average hourly earnings of private nonagricultural production workers were $7.87 per hour. By

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7. *In 1982, the average hourly earnings of private nonagricultural production workers were $7.87 per hour. By 2010, the average hourly earnings had risen to $19.04. In 2010, the CPI was 218.1, compared with 96.5 in 1982. What were the real earnings of private nonagricultural production workers in 2010 measured in 1982 dollars?

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Macroeconomics Private And Public Choice

ISBN: 9781111970628

14th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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