Table 5.14 The table above reports the nominal average hourly wage and the consumer price index for 1956 and 2012.
-Refer to Table 5.14.The percentage change in real average wage from 1956 to 2015 equals
A)2.0 percent.
B)8.7 percent.
C)21.7 percent.
D)84.6 percent.
E)154.3 percent.

Question

Table 5.14  The table above reports the nominal average hourly wage and the consumer price index for 1956 and 2012.
-Refer to Table 5.14.The percentage change in real average wage from 1956 to 2015 equals
A)2.0 percent. 
B)8.7 percent. 
C)21.7 percent. 
D)84.6 percent. 
E)154.3 percent.

Quizplus · Accepted Answer

The percentage change in real average wage from 1956 to 2015 can be calculated using the formula: [(Final Value - Initial Value) / Initial Value] * 100. Without the specific values from Table 5.14, the correct answer is based on common economic data trends showing significant growth over such a long period, which suggests an 84.6 percent increase is a plausible figure for the change in real average wage over nearly 60 years.

Table 514 the Table Above Reports the Nominal Average Hourly