Table 5.18
-Refer to Table 5.18.Looking at the table above, real average hourly earnings between 2015 and 2016 changed by
A)0.3%.
B)1.5%.
C)2.2%.
D)5%.
E)6.5%.

Question

Table 5.18 
-Refer to Table 5.18.Looking at the table above, real average hourly earnings between 2015 and 2016 changed by
A)0.3%. 
B)1.5%. 
C)2.2%. 
D)5%. 
E)6.5%.

Quizplus · Accepted Answer

Real average hourly earnings change is calculated based on the change in nominal earnings adjusted for inflation. The given options suggest a need to calculate the percentage change from one year to the next, taking into account inflation. A 0.3% change is indicative of a small real increase in earnings, suggesting that after adjusting for inflation, the earnings slightly increased.

Table 5.18 -Refer to Table 5.18.Looking at the Table Above, Real Average