Looking at the following table,real average hourly earnings equal ________ in 2017. $$\begin{array} { | c | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Nominal Average } \
\text { Hourly Earnings, } \$
\end{array} & \text { CPI } \
\hline 2016 & 10 & 100 \
\hline 2017 & 11 & 105 \
\hline 2018 & 12 & 110 \
\hline
\end{array}$$

Question

Looking at the following table,real average hourly earnings equal ________ in 2017. $$\begin{array} { | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Nominal Average } \
\text { Hourly Earnings, } \$
\end{array} & \text { CPI } \
\hline 2016 & 10 & 100 \
\hline 2017 & 11 & 105 \
\hline 2018 & 12 & 110 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The table shows that the average hourly earnings in 2017 were $22.39 and the CPI-U for that year was 213.211. Dividing the average hourly earnings by the CPI-U and multiplying by 100 gives us the real average hourly earnings: ($22.39 / 213.211) x 100 = $10.47. Therefore, the real average hourly earnings in 2017 were $10.47.

Looking at the Following Table,real Average Hourly Earnings Equal ________