Federal Minimum Wage (for Years in Which a Change Occurred) Year Actual dollars 1996 dollars 1938 $0.25 $2.78 1939 $0.30 $3.39 1945 $0.40 $3.49 1950 $0.75 $4.88 1956 $1.00 $5.77 1961 $1.25 $6.41 1967 $1.40 $6.58 1968 $1.60 $7.21 1974 $2.00 $6.37 1976 $2.30 $6.34 1978 $2.65 $6.38 1979 $2.90 $6.27 1981 $3.35 $5.78 1990 $3.50 $4.56 1991 $4.25 $4.90 1996 $4.75 $4.75 1997 $5.15 $5.03 2007 $5.85 $4.42 2008 $6.55 $4.77 2009 $7.25 $5.12 2016* $7.25 $4.74 In terms of purchasing power, would you rather have earned the minimum wage in 1968 or 2009? Explain.

Name: Federal Minimum Wage (for Years in Which a Change Occurred)YearActual
Uploaded: 2024-03-20T07:06:16.000Z
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Description: Federal Minimum Wage (for Years in Which a Change Occurred)YearActual dollars1996 dollars1938$0.25$2.781939$0.30$3.391945$0.40$3.491950$0.75$4.881956$1.00$5.771961$1.25$6.411967$1.40$6.581968$1.60$7.211974$2.00$6.371976$2.30$6.341978$2.65$6.381979$2.

From the given data in the question the table value predicts thatThere has…

Calculus: Early Transcendentals

8th Edition

ISBN: 9781285741550

Author: James Stewart

Publisher: Cengage Learning

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Federal Minimum Wage (for Years in Which a Change Occurred)

Year	Actual dollars	1996 dollars
1938	$0.25	$2.78
1939	$0.30	$3.39
1945	$0.40	$3.49
1950	$0.75	$4.88
1956	$1.00	$5.77
1961	$1.25	$6.41
1967	$1.40	$6.58
1968	$1.60	$7.21
1974	$2.00	$6.37
1976	$2.30	$6.34
1978	$2.65	$6.38
1979	$2.90	$6.27
1981	$3.35	$5.78
1990	$3.50	$4.56
1991	$4.25	$4.90
1996	$4.75	$4.75
1997	$5.15	$5.03
2007	$5.85	$4.42
2008	$6.55	$4.77
2009	$7.25	$5.12
2016*	$7.25	$4.74