The average real wage given the CPI and Nominal wages in:
1967 is $21,188.62
1977 is $22,407.58
1987 is $22,935.74
1997 is $23,163.24
2007 is $23,973.95
2013 is $22,455.79
The paycheck of the average worker was highest in 2013.
The purchasing power of the average worker was highest in 2007.
What is the consumer price index?
The consumer price index measures the changes in price of a basket of good. It is used to measure inflation.
Real wages = nominal wages / cpi
Real wage in 2013 = 52,322 / 2.33 = $22,455.79
Purchasing power is the highest when the real wage is the highest.
To learn more about, consumer price index, please check: https://brainly.com/question/26382640