As an example consider the following: the minimum wage in 1990 was $4.25 but in 2003...
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As an example consider the following: the minimum wage in 1990 was $4.25 but in 2003 the minimum wage was $6.75. This is an increase of almost 60%. If the Consumer Price Index has gone up by 100%, what could we conclude about the standard of living of minimum wage workers? As an example consider the following: the minimum wage in 1990 was $4.25 but in 2003 the minimum wage was $6.75. This is an increase of almost 60%. If the Consumer Price Index has gone up by 100%, what could we conclude about the standard of living of minimum wage workers?
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Real minimum wage Nominal minimum wageCPI100 Assuming that the CPI in 1990 was 100 ... View the full answer
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Auditing A Business Risk Approach
ISBN: 978-0538476232
8th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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