Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2
-Refer to Table 30.2. From 2016 to 2017 the real wage

Question

Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2 
-Refer to Table 30.2. From 2016 to 2017 the real wage

Quizplus · Accepted Answer

From the table, we can see that the nominal wage increases from $20.00 to $22.00, while the Consumer Price Index (CPI) remains constant at 100. Therefore, the real wage (nominal wage adjusted for inflation) increases from $20.00/100 = 0.20 to $22.00/100 = 0.22. Hence, the real wage rose from 2016 to 2017.

Refer to the Information Provided in Table 30