contestada

The table below shows the annual change in the average nominal wage and inflation rate since 2008.


a. Compute the percentage change in real income for each year shown in the table.


Instructions: In part a, round your answers to two decimal places. In parts b and c, enter your answers as a whole number. If entering a negative number, include a minus sign.


(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 :) )


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

of the six years.


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

of the six years.


d. The average real income of households can increase (Click to select)

The table below shows the annual change in the average nominal wage and inflation rate since 2008 a Compute the percentage change in real income for each year s class=

Respuesta :

Parrain

Based on the given data in the table, the percentage change in real income per year are:

  • 2008 = -3.51
  • 2009 = - 0.84
  • 2010 = -2.38.
  • 2011 = -1.79.
  • 2012 = 0.61
  • 2013 = 0.77

The number of years the paycheck of the average worker declined was 2 years.

The number of years the purchasing power declined was 4 years.

The average real income of households can increase when nominal wage growth is larger than inflation.

What does the table show?

To find the percentage change in real income each year, subtract Annual inflation from Annual nominal wage growth.

= 0.33 - 3.84 = -3.51

= -1.20 - (-0.36) = -0.84

= -0.74 - 1.64 = -2.38

= 1.37 - 3.16 = -1.79

= 2.68 - 2.07 = 0.61

= 2.23 - 1.46 = 0.77

For two years, the average paycheck declined when in 2009 and 2010, the nominal wage growth was negative.

Purchasing power declined for 4 years from 2008 to 2011 when annual real wage growth was negative.

Find out more on real wages at https://brainly.com/question/1622389.

Otras preguntas