Recall the Application About the Value of the Minimum Wage

question 71

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. By what percentage did the federal minimum wage increase from 1974 to 2007?

• A)65.81 percent
• B)192.5 percent
• C)222.3 percent
• D)292.5 percent

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Definitions:

Reared Together

Describes individuals, typically siblings or animals, who are raised in the same environment at the same time.

Polyandry

A type of marriage where a woman is simultaneously married to more than one man.

Polygyny

A form of marriage in which a man is allowed to have more than one wife.

Polygamy

The practice or condition of having more than one spouse at the same time.