The Supreme Court ruled the federal minimum wage, first proposed in 1933, unconstitutional; however, the Supreme...

 

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The Supreme Court ruled the federal minimum wage, first proposed in 1933, unconstitutional; however, the Supreme Court later upheld the constitutionality of a minimum wage in 1937. In 1938, the minimum wage was established at $0.25 per hour. In 2015, the federal minimum wage increased to $7.25, where it stands today. In addition, the consumer price index was 14.1 in 1938 and 307.026 in 2023. a.) Adjusted for inflation, what would the minimum wage be worth in 2023? You must support your answer. b.) In 1968, the minimum wage was increased to $1.60. Adjusted for inflation, what would the $1.60 minimum be worth today (hint: the CPI was 34.8 in 1968)? You must support your answer. c.) Has the minimum wage kept up with inflation? Explain. The Supreme Court ruled the federal minimum wage, first proposed in 1933, unconstitutional; however, the Supreme Court later upheld the constitutionality of a minimum wage in 1937. In 1938, the minimum wage was established at $0.25 per hour. In 2015, the federal minimum wage increased to $7.25, where it stands today. In addition, the consumer price index was 14.1 in 1938 and 307.026 in 2023. a.) Adjusted for inflation, what would the minimum wage be worth in 2023? You must support your answer. b.) In 1968, the minimum wage was increased to $1.60. Adjusted for inflation, what would the $1.60 minimum be worth today (hint: the CPI was 34.8 in 1968)? You must support your answer. c.) Has the minimum wage kept up with inflation? Explain.

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A Adjusted for inflation what will the minimum wage be worth in 2023 You must support your answer Cu... View the full answer