The 2004 US presidential debates questioned whether the minimum wage has kept pace with

Chapter 1, Problem 32

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The 2004 US presidential debates questioned whether the minimum wage has kept pace with inflation. Decide the question using the following information:61 In 1938, the minimum wage was 25c/; in 2004, it was $5.15. During the same period, inflation averaged 4.3%. 3

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