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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.

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Audience:   High School, College
Language:   English
Subjects:   Economics, AP, Data Literacy
Resource Types:   Data, Charts/Graphs, Online Course
Concepts:   Money, Inflation/Deflation