How much would you need to earn

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Question - If you were earning $6.50 per hour in year 2001, how much would you need to earn in 2022 for your real income to remain the same? (Your instructor's first job was in 2001. He made $6.50 an hour.) Is the current minimum wage ($7.25 per hour) more or less than this amount (in real terms)? Is Chick-Fil-A's current average starting wage ($8.75 per hour) more or less than this amount (in real terms)?

Reference no: EM133276674

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