Table 5.18
-Refer to Table 5.18. Looking at the table above, real hourly earnings between 2016 and 2017 changed by
A)-1.8 percent.
B)-0.75 percent.
C)0.3 percent.
D)1.6 percent.
E)2.4 percent.

Question

Table 5.18 
-Refer to Table 5.18. Looking at the table above, real hourly earnings between 2016 and 2017 changed by
A)-1.8 percent. 
B)-0.75 percent. 
C)0.3 percent. 
D)1.6 percent. 
E)2.4 percent.

Quizplus · Accepted Answer

To find the change in hourly earnings between 2016 and 2017, we need to look at the percentage change in the real hourly earnings column. From 2016 to 2017, the real hourly earnings increased from $10.44 to $10.52, which is a change of ($10.52-$10.44)/$10.44 = 0.76%. However, since we are interested in the percentage change in hourly earnings, we need to subtract the inflation rate of 1.5% from this number, giving us a net change of 0.76% - 1.5% = -0.74%, or -0.75% rounded to one decimal place. Therefore, the correct answer is B.

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