Table 13-15 -Refer to Table 13-15

question 98

Multiple Choice

Table 13-15
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average } \\\text { Hourly Earnings }\end{array} & \text { CPI } \\\hline 2011 & \$ 10 & 100 \\\hline 2012 & 10 & 105 \\\hline 2013 & 12 & 110 \\\hline\end{array}$$
-Refer to Table 13-15.Looking at the table above,real average hourly earnings in 2011 were

• A)$9
• B)$9.52
• C)$10
• D)$12.63

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Definitions:

Exceeded

To go beyond an established limit or standard.

More Than One Vendor

Utilizing services or products from multiple suppliers or companies instead of relying on a single source.

Estimate Cost

The process of forecasting the financial expenditure required to complete a project or produce a good.

Selection Phase

The stage in a project or procurement process where options are evaluated and choices are made regarding resources, suppliers, or methods.