Question: 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

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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