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The line graph below displays the Unadjusted Federal Minimum Wage and Adjusted Federal Minimum Wage in Constant 2020 Dollars from 1985 to the present. Federal
The line graph below displays the Unadjusted Federal Minimum Wage and Adjusted Federal Minimum Wage in Constant 2020 Dollars from 1985 to the present. Federal Minimum Wage, 1985-2020 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 1985 990 1995 2000 2005 2010 2015 2020 Unadjusted Federal Minimum Wage - Adjusted Federal Minimum Wage 3. Describe the general trend of the Unadjusted Federal Minimum Wage from 1985 to 2020. Respond in complete sentences. (4 pt) 4. During periods when the unadjusted federal minimum wage is constant, identify the trend that you observe in the adjusted federal minimum wage and then explain why that trend occurs. Respond in complete sentences. (6 pt)Part 1: Federal Minimum Wage The first federal minimum wage was established in 1938 at $0.25 per hour. Since then, the hourly federal minimum wage has been periodically increased as shown in the graph below. Unadjusted Federal Minimum Wage, 1938-2020 8.00 6.00 4.00 Hourly Wage in Dollars 2.00 0.00 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 Year 1. Calculate the average growth rate of the hourly federal minimum wage from $0.25 in 1938 to $7.25 in 2020. Round to three decimal places. Write a sentence that interprets this result in context. (5 pt)
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