Multiple Choice
A report indicated that the average real wage in manufacturing declined by 2 percent between 1990 and 2000. If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the average nominal wage in manufacturing was $35 in 2000, what was the average nominal wage in manufacturing in 1990?
A) $21.13
B) $26.40
C) $26.92
D) $27.47
Correct Answer:
Verified
Correct Answer:
Verified
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