Looking at the Following Table,what Is the Rate of Growth

question 77

Multiple Choice

Looking at the following table,what is the rate of growth of real average hourly earnings from 2016 to 2017? $$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average } \\\text { Hourly Earnings, } \$\end{array} & \text { CPI } \\\hline 2016 & 10 & 100 \\\hline 2017 & 10 & 105 \\\hline 2018 & 12 & 110 \\\hline\end{array}$$

• A) 5%
• B) -5%
• C) 15%
• D) -15%

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Definitions:

Probability Distribution

A statistical analysis function that displays every possible outcome and its probability for a random variable, contained within a specific interval.

Dividend

A portion of a company's earnings distributed to shareholders, usually in the form of cash or additional stock.

Fed Funds Rate

The interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight.

Equilibrium Levels

The point at which market supply and demand balance each other, and as a result, prices become stable.