A firm agreed to pay its workers $34 an hour in 2016 and $36 an hour in 2017. The price level for these years was 241 in 2016 and 245 in 2017. What is the real wage rate in 2016 and 2017, respectively?

Question

A firm agreed to pay its workers ​$34 an hour in 2016 and ​$36 an hour in 2017. The price level for these years was 241 in 2016 and 245 in 2017. What is the real wage rate in 2016 and 2017, respectively?

A firm agreed to pay its workers ​$34 an hour in 2016 and ​$36 an hour in 2017. The price level for these years was 241 in 2016 and 245 in 2017. What is the real wage rate in 2016 and 2017, respectively?

A firm agreed to pay its workers $34 an hour in 2016 and $36 an hour in 2017. The price level for these years was 241 in 2016 and 245 in 2017. What is the real wage rate in 2016 and 2017, respectively?