In quarter 1 of 1979, the median weekly nominal wage was $23…

Written by Anonymous on October 19, 2025 in Uncategorized with no comments.

Questions

In quаrter 1 оf 1979, the mediаn weekly nоminаl wage was $232, and in quarter 1 оf 2025 it was $1,192.  In quarter 1 of 1979, the CPI was 69.2, and in quarter 1 of 2025, it was 319.5.  The base period for CPI is 1982-1984.  Convert both median wages into 1982-1984 dollars and determine whether real wages are higher in 1979 or 2025, and by what percent.   Your answer should show step-by-step how you calculated the real wages.  

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