The Federal Minimum Wage Was $7

question 24

Multiple Choice

The federal minimum wage was $7.25 an hour after it was increased in 2009. In 1980, the minimum wage was $3.25 an hour. The CPI (1982-84 = 100) was 82.4 in 1980 and was 214.5 in 2009. Which of the following is true?

• A) The 1980 minimum wage is about $8.46 in 2009 dollars, so the minimum wage has gone down in real terms.
• B) The 1980 minimum wage is about $8.46 in 2009 dollars, so the minimum wage has gone up in real terms.
• C) The 1980 minimum wage is about $1.25 in 2009 dollars, so the minimum wage has gone down in real terms.
• D) The 1980 minimum wage is about $1.25 in 2009 dollars, so the minimum wage has gone up in real terms.
• E) The 1980 minimum wage is about $4.50 in 2009 dollars, so the minimum wage has gone up in real terms.

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