A report found that the real entry-level wage for college graduates declined by 7 percent between 2003 and 2010. 2010 Nominal Entry-Level Wage 2010 CPI 2003 CPI $13.80 174.2 146.5 Instructions: Enter your responses rounded to two decimal places. Based on the information above: a. The 2010 real entry-level wage is $ . b. The 2003 real entry-level wage is $ . c. The 2003 nominal entry-level wage is $ .
A report found that the real entry-level wage for college graduates declined by 7 percent between 2003 and 2010. 2010 Nominal Entry-Level Wage 2010 CPI 2003 CPI $13.80 174.2 146.5 Instructions: Enter your responses rounded to two decimal places. Based on the information above: a. The 2010 real entry-level wage is $ . b. The 2003 real entry-level wage is $ . c. The 2003 nominal entry-level wage is $ .
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A report found that the real entry-level wage for college graduates declined by 7 percent between 2003 and 2010.
2010 Nominal Entry-Level Wage | 2010 |
2003 CPI |
$13.80 | 174.2 | 146.5 |
Instructions: Enter your responses rounded to two decimal places.
Based on the information above:
a. The 2010 real entry-level wage is $ .
b. The 2003 real entry-level wage is $ .
c. The 2003 nominal entry-level wage is $ .
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