A Report Indicated That the Average Real Wage in Manufacturing

question 158

Multiple Choice

A report indicated that the average real wage in manufacturing declined by 2 percent between 1990 and 2000. If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the average nominal wage in manufacturing was $35 in 2000, what was the average nominal wage in manufacturing in 1990?

• A)$21.13
• B)$26.40
• C)$26.92
• D)$27.47

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Definitions:

Irrational

Referring to thoughts, actions, or behaviors not based on logical reasoning or rationality.

Self-centered

Describes an individual who is overly focused on their own feelings, needs, or interests, often at the expense of others.

Self-doubt

The feeling of uncertainty about one's abilities, decisions, or worth.

Motivated

Having a desire, willingness, or drive to take action or achieve something, often stemming from personal goals or external incentives.