Refer to the information provided in Table 16.1 below to answer the questions that follow.
Table 16.1

-Refer to Table 16.1.What is the real wage rate in 2013 using 2012 as the base year?

Question

Refer to the information provided in Table 16.1 below to answer the questions that follow.
Table 16.1
 
-Refer to Table 16.1.What is the real wage rate in 2013 using 2012 as the base year?

Quizplus · Accepted Answer

To calculate the real wage rate using 2012 as the base year, we need to divide the nominal wage rate in 2013 (which is $12.50) by the CPI in 2013 and multiply it by the CPI in the base year, 2012. 
Real wage rate = ($12.50 / 1.34) x 1.16 = $9.58 (rounded to two decimal places) 
Therefore, the correct answer is B.

Refer to the Information Provided in Table 16