Table 20-15Nominal AverageHeurly Earnings$1010YearCPI20142015201610010612110Refer to Table 20-15. Looking at the table above, real average hourly earnings were equal toin 2015.Select one:Oa. $9.52Ob.510Oc$12O d. 59 Table 20-5YearCPI20152072016215Refer to Table 20-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal toSelect one:O a. 8.0 percent.O b. 21.5 percent.O c 3.9 percent.O d. 215 percent.

“Since you have asked multiple questions, we will solve the first question for you. If you want any…

Nominal Average Heurly Eaming Year CPI 2014 2015 2016 100 10 105 12 110 Refer to Table 20-15. Looking at the table above, real average hourly earnings were equal to in 2015. Select one: Oa. $9.52 Ob. $10 Oc $12 O d. 59

Nominal Average Heurly Eaming Year CPI 2014 2015 2016 100 10 105 12 110 Refer to Table 20-15. Looking at the table above, real average hourly earnings were equal to in 2015. Select one: Oa. $9.52 Ob. $10 Oc $12 O d. 59

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table 20-15
Nominal Average
Heurly Earnings
$10
10
Year
CPI
2014
2015
2016
100
106
12
110
Refer to Table 20-15. Looking at the table above, real average hourly earnings were equal to
in 2015.
Select one:
Oa. $9.52
Ob.510
Oc$12
O d. 59

Table 20-5
Year
CPI
2015
207
2016
215
Refer to Table 20-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal to
Select one:
O a. 8.0 percent.
O b. 21.5 percent.
O c 3.9 percent.
O d. 215 percent.

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