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  3. 3 at the time this book went to print the...

Question: 3 at the time this book went to print the...

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3. At the time this book went to print, the minimum wage was $7.25. To find the current value of CPI, go to http://www.bls.gov/epi/home.htm. Click on CPI Tables, which is found on the left side of the website. Then, click on Table Containing History of CPI-UU Indexes and Annual Percent Changes from 1913 to Present. This will give you the CPI from 1913 to the present. a. With these values, calculate the current real minimum wage in 1990 dollars. S. All Items Stated in real 1990 dollars, what is the percentage change in the real minimum wage from 1985 to the present? b.
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