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Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453538Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453538 Exercise 12
In 1982, the average hourly earnings of private nonagricultural production workers were $7.87 per hour. By 2012, the average hourly earnings had risen to $19.77. In 2012, the CPI was 229.6, compared with 96.5 in 1982. What were the real earnings of private nonagricultural production workers in 2012 measured in 1982 dollars?
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Economics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
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