Recall Application 5, "The Declining Real Minimum Wage," to answer the following questions:
-According to the application, the weekly income earned in 2007 at that time could buy standard baskets of goods and services.
A) 2.81
B) 1.70
C) 1.16
D) 1.54

Question

Quizplus · Accepted Answer

The application indicates that the real value of the minimum wage in 2007 could buy 1.16 standard baskets of goods and services, reflecting the decline in purchasing power over time.

Recall Application 5, "The Declining Real Minimum Wage," to Answer