Question

8. A job pays $10.00 an hour today. If the same percentage applies to income as well, how much would that job have paid in 1955? (Use your answer from #8) 0/1​

Answer 1

approximately $1.63.

Explanation:

According to the data from 1955, the average (median) income of men was $3,4001. If we consider a full-time job to be 40 hours per week for 52 weeks a year, that’s a total of 2,080 hours per year. So, the average hourly wage in 1955 would be $3,400 divided by 2,080, which is approximately $1.63.