Recall the Application About the Value of the Minimum Wage

question 59

Multiple Choice

Recall the Application about the value of the minimum wage between 1974 and 2007 and the impact
inflation has on the real minimum wage to answer the following question(s) . The following table is from
the Application. $\begin{array}{|l|l|l|}\hline&1974&2007\\\hline\text { Minimum wage per hour } & \$ 2.00 & \$ 5.85 \\\hline \text { Weekly income from minimum wage } & \$ 80.00 & \$ 234.00 \\\hline \text { Cost of a standard basket of goods } & \$ 47.00 & \$ 202.00 \\\hline \text { Number of baskets per week } & 1.70 & 1.16\\\hline\end{array}$

-Refer to the table above. What happened to the real value of the minimum wage between 1974 and 2007?

• A)It remained the same.
• B)It increased.
• C)It decreased.
• D)It could not be determined from the given information.

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Definitions:

Delirium

describes a sudden change in the brain that causes mental confusion and emotional disruption, often temporary.

Mental Confusion

A state of bewilderment or perplexity, often resulting from a disruption of one’s mental faculties.

Hallucinations

Perception-like experiences without an external stimulus, such as seeing or hearing things that aren't present.

Compulsion

An irresistible urge to perform an irrational or harmful act.