respond to this in paragraph form, Drawing from Mankiw's (2020, Chapter 20) research, it becomes apparent that the federal minimum wage struggles to keep pace with inflation, a recurring challenge. A notable instance occurred in 1990, revealing a gap between the real (red line) and nominal (blue line) minimum wages, despite adjustments for inflation. Presently, this distinction persists, underscoring the importance of periodically adjusting the minimum wage to align with inflation rates. Such measures are crucial for preserving the purchasing power of real incomes over time, warranting consideration from policymakers. Adjusting the minimum wage to align with the contemporary economic landscape represents an essential initial step toward establishing a more precise baseline. This measure is crucial for upholding economic equity and fairness, alongside fulfilling the minimum wage's primary objective of safeguarding low-income earners. Implementing these measures is vital to ensure that the minimum wage retains its efficacy in combating poverty and inequality, while also accurately reflecting the actual expenses of living and contributing to the financial stability of workers