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12. The federal minimum hourly wage has not changed since 1997. The federal minimum hourly wage rates for selected years
between 1975 and 1997 are shown. Using 1975 as the base period, develop an index that shows the changes in hourly wages.
Year
Hourly Wage
1975
$2.10
1980
3.12
1985
3.35
1990
3.90
1995
4.25
1996
4.85
1997
5.35

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1975 - 1980 = 0.4857 1985 = 0.5952... View the full answer

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