If the minimum wage in 1988 was $3.65/hr and the CPI was 65.3, and the minimum wage in 2014 was $8.50/hr and the CPI is 137.5, when was the minimum wage worker better off: 1988 or 2014, AND what was the percentage of each?
a) Better off in 2014 because wages increased 133% and prices increased 111%
b) Better off in 1988 because wages increased 57% and prices increased 111%
c) Better off in 2014 because wages increased 57% and prices increased 53%
d) Better off in 1988 because wages increased 133% and prices increased 53%