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How did nominal wages change between 2010 and 2014

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Question

According to the data below, please show the percentage change:

Compute percentage changes.

Year Average Weekly Wage CPI

2010 $400 131

2014 $440 140

2018 $500 167

(a) How did nominal wages change between 2010 and 2014?

(b) How did real wages (using 2010's CPI as base) change between 2010 and 2014?

(c) How did real wages (using 2010's CPI as base) change between 2010 and 2018?

Please offer step by step explanation for each answer

Reference no: EM132342617

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