Table 20-17 -Refer to Table 20-17

question 84

Multiple Choice

Table 20-17
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average } \\\text { Hourly Earnings }\end{array} & \begin{array} { c } \text { CPI } \\( \mathbf { 1 9 8 2 - 1 9 8 4 } = \mathbf { 1 0 0 } ) \end{array} \\\hline 2014 & \$ 10 & 188.9 \\\hline 2015 & 11 & 195.3 \\\hline 2016 & 13 & 201.6 \\\hline\end{array}$$
-Refer to Table 20-17.Looking at the table above,real average hourly earnings between 2015 and 2016 changed by

• A)1.2%.
• B)4.5%.
• C)9.9%.
• D)14.5%.

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Definitions:

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on accounting principles.

Drawee

In financial terms, this is the entity upon which a cheque or draft is drawn and is responsible for paying the amount.

Financial Statement

A summarized record that shows the financial health of a business or individual, including components like balance sheets, income statements, and cash flow statements.

Normal Balance

The side (debit or credit) of an account that is typically increased, indicating whether an account increases on the left side (debit) or right side (credit).