Refer to the information provided in Table 15.1 below to answer the questions that follow.
Table 15.1
-Refer to Table 15.1. What is the real wage rate in 2015 using 2014 as the base year?
A) $7.14
B) $9.80
C) $10.00
D) $14.00

Question

Refer to the information provided in Table 15.1 below to answer the questions that follow.
Table 15.1 
-Refer to Table 15.1. What is the real wage rate in 2015 using 2014 as the base year?
A) $7.14 
B) $9.80 
C) $10.00 
D) $14.00

Quizplus · Accepted Answer

To calculate the real wage rate, you need to adjust the nominal wage rate by the inflation rate using the base year. Without the specific data from Table 15.1, the correct choice is based on the assumption that $7.14 is the adjusted real wage rate for 2015 using 2014 as the base year.

Refer to the Information Provided in Table 15