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Sam Steward is a freelance Web page designer. His yearly wages for the years 2009 through 2014 are listed below. An industry index for computer
- Sam Steward is a freelance Web page designer. His yearly wages for the years 2009 through 2014 are listed below. An industry index for computer programmers that reports the rate of wage inflation in the industry is also included. This index has a base of 1998.
Year | Wage ($ thousands) | Index (1998 = 100) |
2009 | $175 | 148.3 |
2010 | 175 | 140.6 |
2011 | 150 | 120.9 |
2012 | 120 | 110.2 |
2013 | 120 | 105.3 |
2014 | 130 | 105.0 |
(a) (5 points) Compute Sam's real income for the period. (b) (2 points) Did his wages match the increase or decline in the industry?
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