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Question
The real minimum wage rateA) has generally increased since 1967.
B) has generally decreased during the 1970s and 1980s and has fluctuated around a $6.50 per hour average since the mid-1980s.
C) was at its highest level in 1995.
D) fell after 1967 until it reached a minimum around 1985 and has generally risen since then.
E) has stayed in the range between $6 and $5 (measured in 2009 dollars per hour) since 1967.
Answer
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Related questions
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Scarcity results from the fact that
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B) not all goals are desirable.
C) we cannot answer the major economic questions.
D) choices made in self-interest are not always in the social interest.
E) the population keeps growing.
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Why does scarcity lead to the what, how, and for whom questions?
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