CHAPTER 01 - PHALL-82241 PINDYCK CHAPTER 01 page 2 of 2...

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Unformatted text preview: PHALL-82241 PINDYCK CHAPTER 01 page 2 of 2 FIGURE 1.1 THE MINIMUM WAGE 8 Real Wage ($2000) Dollars Dollars per hour 6 4 2 Nominal Wage 0 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 In nominal terms, the minimum wage has increased steadily over the past 70 years. However, in real terms its expected 2010 level is below that of the 1970s. Fig 01-01.EPS 2005 2010 ...
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This note was uploaded on 09/28/2011 for the course ECON 105 taught by Professor Prof.eco during the Spring '11 term at Indian School of Business.

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