Suppose we expect consumer prices to increase by about 30 percent between 2010 and 2020, and the minimum wage was $7.25 per hour in 2010. What should be the minimum wage in 2020 if it is set to maintain the same purchasing power as in 2010?
A) $7.25
B) $7.55
C) $9.42
D) none of the above

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The Answer of Suppose we expect consumer prices to increase by about 30 percent between 2010 and 2020, and the minimum wage was $7.25 per hour in 2010. What should be the minimum wage in 2020 if it is set to maintain the same purchasing power as in 2010?
A) $7.25
B) $7.55
C) $9.42
D) none of the above

Suppose We Expect Consumer Prices to Increase by About 30