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Most of you are somewhere around 20 years of age. Using the PCE price index, compare the real wage back in July of 2001 to
Most of you are somewhere around 20 years of age. Using the PCE price index, compare the real wage back in July of 2001 to the real wage in July of 2021 (20 years later). That is, calculate the real wage in July of 2001 and then in July of 2021 and calculate the % change in the real wage during this time. Show all work or points will be taken off. The less rounding the better but take the real wage to 2 decimal places.
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