[OPE-L:2900] Re: Excuse me?

Allin Cottrell (cottrell@wfu.edu)
Wed, 28 Aug 1996 06:13:03 -0700 (PDT)

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On Tue, 27 Aug 1996, Alan Freeman wrote:

> Could someone define 'real wage' for me?

The money wage divided by the CPI. Everyone knows there are
serious index-number problems, which become more severe the
more widely separated are the points in time between which
comparison is made; the concept is not thereby rendered
totally useless.

Allin Cottrell