A dozen eggs cost $0.88 in January 1980 and $2.11
in January 2015. The average wage for production
workers was $7.58 per hour in January 1980 and
$19.64 in January 2015.
a. By what percentage did the price of eggs rise?
b. By what percentage did the wage rise?
c. In each year, how many minutes did a worker
have to work to earn enough to buy a
dozen eggs?
d. Did workers’ purchasing power in terms of eggs
rise or fall?
a)
price increase by 139.77 %
b)
increase by 159.10 %
c) 1980:
2015:
d)Workers’ purchasing power in terms of eggs is rise.
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