When adjusted for inflation,the value of minimum wage in 2011 is _______ than it was in 1968.
A) 10% more
B) 12% more
C) 6% less
D) 13% less

Question

Quizplus · Accepted Answer

According to the Bureau of Labor Statistics, the minimum wage in 1968 was $1.60 per hour. When adjusted for inflation to 2011 dollars, this would be $10.90 per hour. However, the actual minimum wage in 2011 was $7.25 per hour, which is 33 percent lower than the inflation-adjusted value from 1968. Therefore, the value of minimum wage in 2011 was 13% less than it was in 1968 when adjusted for inflation.

When Adjusted for Inflation,the Value of Minimum Wage in 2011