Table 13-14 The Table Above Reports the Nominal Average Hourly Earnings in Nominal

question 163

Multiple Choice

Table 13-14
$\begin{array}{|c|c|c|}\hline \text { Year } & \begin{array}{c}\text { Nominal Average } \\\text { Hourly Earnings }\end{array} & \begin{array}{c}\text { CPI (1982-1984 = } \\\mathbf{1 0 0}) \end{array} \\\hline 1965 & \$ 2.65 & 32 \\\hline 2010 & 22.59 & 219 \\\hline\end{array}$ The table above reports the nominal average hourly earnings in private industry and the consumer price index for 1965 and 2010.
-Refer to Table 13-14.The percentage change in real average earnings from 1965 to 2010 equals

• A) 2.0 percent.
• B) 19.7 percent.
• C) 24.6 percent.
• D) 80.3 percent.

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