How many minutes worker has to work to earn to buy newspaper, Microeconomics

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How many minutes worker has to work to earn to buy newspaper

The Ottawa Citizen cost $0.10 in 1970 and $0.50 in 1990. The average wage in manufacturing was $3.01 per hour in 1970 and $14.19 in 1990.

a) By what percentage did the price of a newspaper rise?

b) By what percentage did the wage rise?

c) In each year, how many minutes does a worker have to work to earn enough to buy a newspaper?

d) Did workers' purchasing power in terms of newspapers rise or fall?

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Microeconomics: How many minutes worker has to work to earn to buy newspaper

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Microeconomics: How many minutes worker has to work to earn to buy newspaper

Reference No:- TGS061194

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Recent Questions Asked Microeconomics

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Microeconomics: How many minutes worker has to work to earn to buy newspaper

Reference No:- TGS061194

Recent Questions Asked Microeconomics

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