posted by .

Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage?

I am not sure what to do for this or what the formula is if any. Thank you for your help.

## Similar Questions

1. ### macroeconomics

Suppose in 2009 the united states congress passes a minimum wage law that increases the minimum wage (the lowest legal wage) to 7.25 per hour and has a provision that increases the minimum wage at the beginning of each year based on …
2. ### algebra

Minimum Wage: The table shows minmum wage for three different years Year 1940 1968 1997 Wage (\$) 0.25 1.60 5.15 (a) Make a scatterplot of the data in the viewing rectangle [1930, 2010, 10] by [0, 6, 1] (b) Find a quadratic function …
3. ### microeconomics

TRUE OR FALSE: 9. Assume that the Minimum Wage has increased to \$14 from \$10. If the total labour-income at the wage of \$14 is higher than the total labour-income at the wage of \$10, it means that the labour-demand with respect to …
4. ### Economics(Please respond, thank you)

Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage?

Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage?