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    Calculating the real wage using nominal wage and price level adjusted wage

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    Year: 1994
    Norminal Wage: 12.07
    Price Level: 148.2

    Calculate the real wage.

    © BrainMass Inc. brainmass.com December 24, 2021, 4:42 pm ad1c9bdddf
    https://brainmass.com/business/accounting/real-wage-nominal-wage-price-level-adjusted-wage-3289

    Solution Summary

    The solution shows the formula for converting nominal to price adjusted wage.

    $2.49

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