Question: Use the information in the following table to determine the percentage changes in the U.S. and French real minimum wages between 1957 and 2014. Does

Use the information in the following table to determine the percentage changes in the U.S. and French real minimum wages between 1957 and 2014. Does it matter for your answer that you have not been told the base year for the U.S. CPI or the French CPI? Was the percentage increase in the price level greater in the United States or in France during these years?

United States France Minimum Minimum Wage (dollars per hour) Wage (euros per hour) CPI Year CPI $1.00 1957 27 0.19 237 9.61 2014 7.25 106

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