A dozen eggs cost $1.20 in January 1980 and $1.77 in January 2018. The average hourly wage for production and nonsupervi

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answerhappygod
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A dozen eggs cost $1.20 in January 1980 and $1.77 in January 2018. The average hourly wage for production and nonsupervi

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A dozen eggs cost $1.20 in January 1980 and $1.77 in January
2018. The average hourly wage for production and nonsupervisory
workers was $7.52 in January 1980 and $23.36 in January 2018.
a. By what percentage did the price of eggs rise? By what
percentage did the wage rise?
b. In each year, how many minutes did a worker have to work to
earn enough to buy a dozen eggs?
c. Did workers’ purchasing power in terms of eggs rise or
fall?
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