Q1/ Go to the FRED economic database (https://fred.stlouisfed.org/) and search for "State

Minimum Wage Rate for Illinois" and "State Minimum Wage Rate for Missouri".

a.

In 2012, what was the state's min wage rate for Missouri &

Illinois?

Illinois-8.25

missouri-7.25

b.

In 2023-Jan, what was the state's min wage rate for Missouri & Illinois?

Illinois-13.00

missouri-12.00

c.

What is the difference between both years telling you? Illustrate the results.