Thank you for the opportunity to help you with your question!
Real wage rate in a year=(nominal wage in a year/CPI in a year) * 100
In 1999=18/166 x 100=$10.84
In 2001=21/180 x 100=$11.67
Because the real wage rate in 2001 is more than he real wage rate in 1999, the workers did really get a raise between 1999 and 2001. Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 3rd, 2015
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