Report Real Wage and Purchasing Power in Economics Posted February 9, 2018 · Edited February 9, 2018 by Keveen Efe incomplete Year Wage CPI 2011 $18,000 120.73 2017 $56,000 232.15 With the above data, can you calculate the Purchasing Power of the worker as a result of an increase in wage from 18,000 to 56000? And also give interpretation of the result. Thank you in advance.
Real Wage and Purchasing Power
in Economics
Posted · Edited by Keveen Efe
incomplete
Year Wage CPI
2011 $18,000 120.73
2017 $56,000 232.15
With the above data, can you calculate the Purchasing Power of the worker as a result of an increase in wage from 18,000 to 56000? And also give interpretation of the result.
Thank you in advance.