Sam Steward is a freelance Web page designer. Listed below are his yearly wages

Question

Sam Steward is a freelance Web page designer. Listed below are his yearly wages for several years between 2007 and 2013. Also included is an industry index for Web page designers that reports the rate of wage inflation in the industry. This index has a base period of 1995.

Compute Sam’s real income for the selected years during the six-year period. (Round your answers to 2 decimal places.)

Did his wages keep up with inflation, or did he lose ground? (Round your answers for real wages to the nearest whole dollar and round the percent value to 2 decimal places.)

  Sam’s real wages decreased from $  in 2007 to $  in 2013 measured in 1995 dollars. This is a decrease in the real wage of % over the six years. The wage did not keep pace with inflation, but was close.

Sam Steward is a freelance Web page designer. Listed below are his yearly wages for several years between 2007 and 2013. Also included is an industry index for Web page designers that reports the rate of wage inflation in the industry. This index has a base period of 1995.

Explanation / Answer

Real income

83.6

83.74

83.5

83.03

definetly he losses ground as his wages didnt increase with increase in inflation.

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