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The table below shows the annual change in the average nominal wage and inflation rate since 2 0 0 8 . a . Compute the
The table below shows the annual change in the average nominal wage and inflation rate since a Compute the percentage change in real income for each year shown in the table. Instructions: In part a round your answers to decimal places. In parts b and c enter your answers as a whole nui negative number include a minus sign. Percentage Changes in Nominal Income and Prices tableYeartableAnnualInflationRatepercenttableAnnualNominal WageGrowthpercenttableAnnual Real WageGrowthpercent 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
The table below shows the annual change in the average nominal wage and inflation rate since
a Compute the percentage change in real income for each year shown in the table.
Instructions: In part a round your answers to decimal places. In parts b and c enter your answers as a whole nui negative number include a minus sign.
Percentage Changes in Nominal Income and Prices
tableYeartableAnnualInflationRatepercenttableAnnualNominal WageGrowthpercenttableAnnual Real WageGrowthpercent
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
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