Table 9-23
-Refer to Table 9-23.The table above lists the actual minimum wage and CPI in 1974 and in 2012.Using the above table,calculate the real minimum wage for 1974 and 2012.Calculate the rate of growth of the real minimum wage from 1974 to 2012.Are workers better off in terms of the purchasing power of a dollar in 1974 or 2012? Explain why.
Definitions:
Plasmogamy
The fusion of the cytoplasm from two distinct fungal or algal cells, typically as part of sexual reproduction, preceding the fusion of nuclei.
Karyogamy
The fusion of two haploid nuclei; follows fusion (plasmogamy) of cells from two sexually compatible mating types.
Lichens
A symbiotic association between a fungus and an algae or cyanobacteria, living together to form a single, distinct organism that often appears as leafy or crusty growths on rocks and trees.
Basidiomycetes
a class of fungi characterized by producing spores on club-shaped structures called basidia, includes mushrooms and rusts.
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