If the weekly earnings index for the construction industry was 340 for 1987 (1970 = 100), then:
A) the workers in the construction industry earned $340 per week.
B) the workers earned 340 per cent as much in 1987 as they did in 1970.
C) the workers earned $100 per week in 1970 and $340 in 1987.
D) the real weekly earnings of workers fell by 3.4 percent.

Question

Quizplus · Accepted Answer

The index indicates that workers earned 340% as much in 1987 as they did in 1970, meaning their earnings increased by a factor of 3.4 times from the base year (1970). The index does not provide actual dollar amounts, only relative changes.

If the Weekly Earnings Index for the Construction Industry Was