Why the federal minimum wage stayed frozen

Reference no: EM13238399

Compared to other countries, the U.S. has had a low level of inflation since 1983. The only years that the inflation rate was over 4% for consecutive years 1988-1991. From 1987 to 1992 the CPI went from 113.6 to 140.3. In that time period, the federal minimum wage stayed frozen at $5.15 per hour.

Reference no: EM13238399

Questions Cloud

How much time elapses before the compass hits the ground : A hot-air balloon is rising upward with a constant speed of 3.88 m/s. When the balloon is 7.87 m above the ground, How much time elapses before the compass hits the ground

What price will the profit-maximizing monopolist charge : Suppose a monopolist faces the following demand curve: P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit-maximizing level of output

What is the submarines maximum safe depth in salt water : A research submarine has a 10-cm-diameter window that is 8.9cm thick, What is the submarine's maximum safe depth in salt water

What effect with congress have on the optimal price : The US cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Under the proposed settlement, cigarette companies will make fixed annual payments to the government

Why the federal minimum wage stayed frozen : Compared to other countries, the U.S. has had a low level of inflation since 1983. The only years that the inflation rate was over 4% for consecutive years 1988-1991. From 1987 to 1992 the CPI went from 113.6 to 140.3.

Find maximum velocity of spring when released from rest : A mass of 0.006 kg is attached to a spring that requires a force of 0.01 N to extend it 0.05 meters greater than its natural length, Find maximum velocity of spring when released from rest

Why industry environment is significantly different today : five firms supplied amateur color film in the United States: Kodak, Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these firms, yet Kodak's market share was 67 percent.

Explain the columns change and revised equilibrium : The biggest problem I'm running into is how to complete the ICE chart for the columns Change and Revised Equilibrium. I don't know where those numbers come from.

Find the speed of the raft : A woman on a bridge 104 m high sees a raft floating at a constant speed on the river below, She drops a stone from rest in an attempt to hit the raft, Find the speed of the raft

User Account

All Pages