Given the following data Year Weekly take-home pay (wages) Consumer price index 2000 109. 50 112. 80 2001 112. 20 118. 20 2002 116. 40 127. 40 2003 125. 80 138. 20

2004 135. 40 143. 50

2005 138. 10 149. 80

(a) What was the real average weekly wage for each year? (b) In which year did the employees have the greatest buying power? (c) What percentage increase in the weekly wages for the year 2005 is required (if any) to provide the same buying power that the employees enjoyed in the year in which they had the highest real wage?