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Business, 18.06.2021 01:00 Fire8615

A firm says it cut its labor costs by 35 percent between 2014 and 2019. Workers were paid a wage​ rate, including​ benefits, of​ $80 an hour in 2014 and​ $58 an hour in 2019. If the CPI was 202 in 2014 and 218 in​ 2019, did the real wage rate fall by more or less than 35​ percent?

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A firm says it cut its labor costs by 35 percent between 2014 and 2019. Workers were paid a wage​...
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