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The nominal minimum wage at the end of 1995 was $4.25. At the end of 1968 the nominal minimum wage was $1.60. At the end

  1. The nominal minimum wage at the end of 1995 was $4.25. At the end of 1968 the nominal minimum wage was $1.60. At the end of 1995 the CPI was 156.9. At the end of 1968 the CPI was 35.5. Which minimum wage, 1968 or 1995, had a higher purchasing power? Please show your work.

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