Question
Using 2012 as the base year, calculate the columns Inflation Adjustment to 2012 Dollars and Real Average Hourly Wage in 2012 Dollars for 2018. Year
Using 2012 as the base year, calculate the columns "Inflation Adjustment to "2012 Dollars" and "Real Average Hourly Wage in 2012 Dollars" for 2018.
Year | Consumer Price Index | Inflation Adjustment to "2012 Dollars" | Nominal Average Hourly Wage in Dollars | Real Average Hourly Wage in 2012 Dollars |
| 2012 | 229.6 | 229.6/229.6 = 1 | $23.24 | $23.24 |
| 2018 | 250.5 | $27.53 | $ |
Sources: https://www.minneapolisfed.org/community/financial-and-economic-education/cpi-calculator-information/consumer-price-index-and-inflation-rates-1913; https://fred.stlouisfed.org/series/CES0500000003
The change in the "Real Average Hourly Wage in 2012 Dollars" is $???
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Management And Organisational Behaviour
Authors: Laurie Mullins
7th Edition
9780273688761
