Multiple Choice
From 1981 to 1989, the nominal federal minimum wage was unchanged.As a result:
A) The real minimum wage increased because firms paid higher wages to attract workers over time.
B) The real minimum wage decreased because firms substituted skilled labor for unskilled labor.
C) The real minimum wage increased due to higher payroll taxes.
D) The real minimum wage decreased over time due to inflation.
E) The real minimum wage was unchanged as well.
Correct Answer:
Verified
Correct Answer:
Verified
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