A firm says it cut its labor costs by 35 percent between 2014 and 2019. Workers were paid a wagerate, includingbenefits, of$80 an hour in 2014 and$58 an hour in 2019.

If the CPI was 202 in 2014 and 218 in2019, did the real wage rate fall by more or less than 35percent?

The real wage rate in 2014 was $ __ and the real wage rate in 2019 was $ ___

.

>>> Answer to 2 decimal places.

Between 2014 and2019, the real wage rate fell by ___ than 35 percent.