The accompanying table lists the federal hourly minimum in both actual dollars at the time and 1996
Question:
a. According to the table, how much is $0.25 in 1938 dollars worth in 1996 dollars?
b. According to the table, how much is $1.00 in 1956 dollars worth in 1996 dollars?
c. Note that the minimum wage for 2009 in actual dollars is greater than the minimum wage for 2009 in 1996 dollars. What does that tell us about the minimum wage in 2009?
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Related Book For
Statistical Reasoning for Everyday Life
ISBN: 978-0321817624
4th edition
Authors: Jeff Bennett, Bill Briggs, Mario F. Triola
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