Table 5.20
-Refer to Table 5.20.The table above lists the actual minimum wage and CPI in 1981 and in 2015.Using the above table, calculate the real minimum wage for 1981 and 2015.Calculate the rate of growth of the real minimum wage from 1981 to 2015.Are workers better off in terms of the purchasing power of a dollar in 1981 or 2015? Explain why.

Question

Table 5.20 
-Refer to Table 5.20.The table above lists the actual minimum wage and CPI in 1981 and in 2015.Using the above table, calculate the real minimum wage for 1981 and 2015.Calculate the rate of growth of the real minimum wage from 1981 to 2015.Are workers better off in terms of the purchasing power of a dollar in 1981 or 2015? Explain why.

Quizplus · Accepted Answer

The Answer of Table 5.20 
-Refer to Table 5.20.The table above lists the actual minimum wage and CPI in 1981 and in 2015.Using the above table, calculate the real minimum wage for 1981 and 2015.Calculate the rate of growth of the real minimum wage from 1981 to 2015.Are workers better off in terms of the purchasing power of a dollar in 1981 or 2015? Explain why.

Table 5.20 -Refer to Table 5.20.The Table Above Lists the Actual Minimum