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The table below lists the CPI and wage values for the United States from different decades.

a. Complete the table by computing the real income for each year shown in the table


Instructions: Round your answers to two decimal places.


(Table in the picture. If you could provide me with a formula and an example I can do it on my own after that. Thanks :) )


Instructions: Enter the year using all four numbers (yyyy).


b. Of the years listed above, the paycheck of the average worker was highest in


c. Of the years listed above, the purchasing power of the average worker was highest in

The table below lists the CPI and wage values for the United States from different decadesa Complete the table by computing the real income for each year shown class=

Respuesta :

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