Which of the Following Is a True Statement

question 24

Multiple Choice

Which of the following is a true statement?

• A)The federal minimum wage has been increased every five years since it was introduced in 1938.
• B)The nominal value of the minimum wage was consistently matched purchasing power.
• C)Because rising prices has eroded purchasing power of the minimum wage, the real value of the minimum wage has fallen since its peak in 1968.
• D)The real value of the minimum wage has increased steadily over the past few decades due to inflation.

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Definitions:

Personal Risk

refers to the uncertainties facing individuals that may threaten their health, safety, or financial security.

Indefinitely

An undefined period of time, with no set end date or limitation.

Assets

Economic resources held by an enterprise, capable of delivering future gains.