2. The following table contains the CPI and the Federal Minimum Hourly Wage Rates for the period 1965 through 2009. a. Inflate the 1965 minimum wage to its equivalent value measured in 2009 prices. b. What happened to the standard of living of minimum-wage worken over this forty-four-year period? c. Deflate the 2009 minimum wage to its equivalent value measured in 1965 prices. d. Do these two methods give you consistent results with regard to the standard of living of minimum-wage workens over time? e. The minimum wage did not change over the elghtyear period trom 1981 to 1989. By what percentage did the purchasing power of the minimum wage decline over this period? (Hint: Inflate the value of the minimum wage in 1981 to its equivalent in 1999. Then generate the percent change) f. What happened to the standard of living of minimum-wage workers over the period from 1990 to 20007 (Inflate the 1990 minimum wage and compare it to the 2000 minimum wage)