a. Using the information below, and assuming that you want to maintain your purchasing power from 2011, what nominal wage should you demand in each of the given years? Instructions: Round your answers to two decimal places. CPI Values and Nominal Wages Nominal Wage Year CPI dollars 2011 208.6 $78, 130 2012 209.7 2013 221.5 2014 217.3 b. Assume that your annual wage in 2014 was $82,400. This represents (Click to select)The table below shows the annual change in the average nominal wage and inflation rate since 2008. a. Compute the percentage change in real income for each year shown in the table. Instructions: In part a, round your answers to two decimal places. In parts b and c, enter your answers as a whole number. If entering a negative number, include a minus sign. Percentage Changes in Nominal Income and Prices Annual Annual Inflation Nominal Wage Rate Growth Annual Real Wage Year (percent) (percent) Growth (percent) 2008 4.41% 3. 38% 2009 0.39 -1.48 2010 1. 82 -0.86 2011 3.76 1.63 2012 2.35 3.25 2013 1.59 2.63 b. Of the years listed above, the paycheck of the average worker declined in of the six years. c. Of the years listed above, the purchasing power of the average worker declined in of the six years. d. The average real income of households can increase | (Click to select)The table below lists hypothetical CPI and wage values for the United States from different decades. a. Complete the table by computing the real income for each year shown in the table. Instructions: Round your answers to two decimal places. Nominal and Real Income Year Average Nominal CPI Average Real Wage Wage (dollars) (dollars) 1967 $7, 177 34 $ 1977 13, 798 61.4 1987 26, 526 115.4 1997 37, 850 163.3 2007 50, 396 210.5 2013 53, 163 236.8 Instructions: Enter the year using all four numbers (yyyy). b. Of the years listed above, the paycheck of the average worker was highest in c. Of the years listed above, the purchasing power of the average worker was highest in