Recall the Application About the Value of the Minimum Wage

question 11

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. The nominal value of the minimum wage in 2007 was

• A)$1.07 per hour.
• B)$2.00 per hour.
• C)$3.15 per hour.
• D)$5.85 per hour.

---

Definitions:

Teenagers

Individuals who are in their teen years, typically understood as being between the ages of 13 and 19, a developmental stage characterized by significant physical, psychological, and social changes.

Stressful Events

Situations or occurrences that cause significant strain, anxiety, or pressure on an individual.

Social Resources

Assets, both material and nonmaterial, available within a community or society that individuals and groups can access for support.

Depression

A psychological condition marked by a continuous feeling of sadness or a lack of enthusiasm for things, leading to a substantial disruption in everyday life.