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3 years ago

A report found that the real entry-level wage for college graduates declined by 6 percent between 2003 and 2010.

Business

1 answer:

S_A_V [24]3 years ago

7 0

Answer: The answer is as follows:

Explanation:

Given that,

Real entry-level wage declined by 6% between 2003 and 2010

2010 Nominal Entry-Level Wage = $13.50

2010 CPI = $170.2

2003 CPI = 142.5

(a) Real entry wage in 2010 = $\frac{2010\ Nominal\ entry\ level\ wage}{2010\ CPI}$

= $\frac{13.50}{170.2}$

= $7.93

The 2010 Real entry-wage level is $7.93

2010 real wage declined by 6% from 2003

( b) The 2003 real entry-wage level is $8.43

Therefore, real entry-level wage in 2003 = $\frac{7.93}{94%}$

= $8.43

= $8.43 \times \frac{142.5}{100}$

= $12.01

The 2003 nominal entry-wage is $ 12.01

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3 years ago

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nikitadnepr [17]

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All the answers are correct.

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2 years ago

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strojnjashka [21]

Answer:

The answer is below

Explanation:

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2 years ago