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Home / Questions / ) Suppose the minimum wage was $0.25 per hour in 1938 and the CPI in that year was 11.5. I...

) Suppose the minimum wage was $0.25 per hour in 1938 and the CPI in that year was 11.5. If the 22 CPI in 1990 was 130.7, what is the real value of the 1938 minimum wage in terms of 1990 dollars

) Suppose the minimum wage was $0.25 per hour in 1938 and the CPI in that year was
11.5. If the
22
CPI in 1990 was 130.7, what is the real value of the 1938 minimum wage in terms of 1990
dollars? The real value of the 1990 minimum wage in terms of 1990 dollars is $4.25. Has
the real value of the
minimum wage declined since 1938?

Apr 13 2021 View more View Less

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