Asked by Rica Jean Mabituin on Mar 10, 2024
Verified
Inflation adjusted hourly wages for the average hourly worker is _______ today than it was in 1973.
A) higher
B) lower
C) about the same
Inflation Adjusted
The process of converting amounts from an original currency to reflect current value, considering the effects of inflation over time.
Hourly Wages
The amount of money paid to an employee for one hour of work, a direct indicator of labor compensation in the job market.
- Identify the contrast between true circumstances and false beliefs concerning the financial condition, employment opportunities, and discrepancies in the U.S. through history to the modern era.
Verified Answer
AM
Alondra MuñozMar 10, 2024
Final Answer :
B
Explanation :
According to data from the Bureau of Labor Statistics, the inflation-adjusted average hourly wage for workers in 2019 was about 9% lower than it was in 1973. Therefore, the correct answer is B) lower.
Learning Objectives
- Identify the contrast between true circumstances and false beliefs concerning the financial condition, employment opportunities, and discrepancies in the U.S. through history to the modern era.
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