The new york times cost 015 in 1970 and 200 in 2011 the, Ask an Expert

Economics

The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3.36 per hour in 1970 and $23.09 in 2011.

A) by what percentage did the price of the newspaper rise?

B) by what percentage did the wage rise?

C) in each year, how many minutes does a worker have to work to earn enough to buy the newspaper?

D) did workers' purchasing power in terms of newspaper rise or fall?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91238447

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