Use the data given in question 61 to compute the change in real wages between 1987 and

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Use the data given in question 61 to compute the change in real wages between 1987 and 1991. Are workers any better off?

Question 61

Suppose you are given the following information about wages and prices for 5 years. image text in transcribed

(a) Compute the change in real salaries between 1988 and 1989.

(b) Are workers any better off in 1989 than they were in 1988?

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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Question Posted: Mar 03, 2024 07:01 AM

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Use the data given in question 61 to compute the change in real wages between 1987 and

Question:

Year 1987 1988 1989 1990 1991 Annual salary $38,202 39,837 41,001 41,327 55,943 Consumer price index 95 100 108 125 200

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Statistics For Business And Financial Economics

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