FRED Interactive: Nominal and Real Wages
Inflation is a general, sustained upward movement of prices for goods and services in an economy. This increase in the cost of living causes money to lose its purchasing power over time. In this activity, students compare the nominal value of the federally mandated minimum wage with its inflation-adjusted real value.
Teachers: Visit the FRED Interactives in our Econ Lowdown Teacher Portal. Once you are logged in, go to the Resource Gallery and filter by “Resource Type: Interactive Lesson” to easily find and preview the FRED Interactive lessons.
If you have difficulty accessing this content due to a disability, please contact us at 314-444-4662 or firstname.lastname@example.org.