Table 20-22 -Refer to Table 20-22

question 240

Essay

Table 20-22
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average Hourly } \\\text { Earnings }\end{array} & \begin{array} { c } \text { CPI } \\( \mathbf { 1 9 8 2 - 1 9 8 4 } = \mathbf { 1 0 0 } )\end{array} \\\hline 2014 & \$ 10 & 100 \\\hline 2015 & 11 & 105 \\\hline 2016 & 12 & 110 \\\hline\end{array}$$
-Refer to Table 20-22.Using the above table,calculate real average hourly earnings for 2014,2015,and 2016.Calculate the rate of growth of real average hourly earnings from 2015 to 2016.

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