If the nominal wage is $30 in 2011 and the CPI is 202 in 2011, then the real wage in 1982-1984 dollars

A) is $29.00.
B) is $1.48.
C) is $14.85.
D) is $30.
E) cannot be calculated without the past year wage rate.

The Consumer Price Index (CPI) tracks changes in consumer prices on a monthly basis in the United States. The CPI is calculated by the Bureau of Labor Statistics (BLS) as a weighted sum of pricing for a range of goods and services that is indicative of total consumer expenditure in the United States.

One of the most widely used indicators of inflation and deflation is the Consumer price index. In contrast to the price index (PPI), which tracks shifts in the prices paid to American manufacturers of goods and services, the CPI report employs a different questionnaire technique, pricing samples, and indexing weights.

Learn more about consumer price index (CPI) here:

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If the nominal wage is $30 in 2011 and the CPI is 202 in 2011, then the real wage in 1982-1984 dollars A) is $29.00. B) is $1.48. C) is $14.85. D) is $30. E) cannot be calculated without the past year wage rate.

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If the nominal wage is $30 in 2011 and the CPI is 202 in 2011, then the real wage in 1982-1984 dollars

A) is $29.00.
B) is $1.48.
C) is $14.85.
D) is $30.
E) cannot be calculated without the past year wage rate.