3. At the time this book went to print, the minimum wage was $5.85. To find the...

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3. At the time this book went to print, the minimum wage was $5.85. To find the current value of the CPI, go to http://www.bls.gov/cpi/home.htm.

Click on Consumer Price Index-All Urban Consumers (Current Series) and select U.S. All items. This will give you the CPI from 1913 to the present.

a. With these values, calculate the current real minimum wage in 1990 dollars.

b. Stated in real 1990 dollars, what is the percentage change in the real minimum wage from 1985 to the present?

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Microeconomics

ISBN: 9780132080231

7th Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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Question Posted: Oct 26, 2024 03:00 AM

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3. At the time this book went to print, the minimum wage was $5.85. To find the...

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Microeconomics

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