Which statement is the most accurate? (LO7) a) The federal minimum wage rate is indexed to the rate of inflation: Each year it's raised equal to the rate of inflation during the previous year. b) Over 10 million Americans are covered by a living wage law. c) There is considerable disagreement as to whether the federal minimum wage helps the unskilled workers more than it hurts them. d) Very few people's wage rates are actually determined by supply and demand.

The federal minimum wage is a legally mandated minimum amount that workers must be paid per hour in the United States. A living wage law mandates a specific wage rate that is higher than the federal minimum wage and aims to ensure that workers are able to cover their basic needs. Supply and demand is an economic principle that states that the price of a good or service will adjust until quantity supplied equals quantity demanded. Step 2: Analyzing each statement

a) The federal minimum wage rate is indexed to the rate of inflation: It's important to understand that the federal minimum wage is not automatically adjusted with inflation. Instead, it's typically increased due to legislation. b) Over 10 million Americans are covered by a living wage law: This statement would require a source or reference to verify its accuracy. c) There is considerable disagreement as to whether the federal minimum wage helps the unskilled workers more than it hurts them: This statement refers to an ongoing debate among economists and policymakers about the net benefits (or potential negative consequences) of a minimum wage policy. d) Very few people's wage rates are actually determined by supply and demand: Supply and demand plays a role in determining wages for most occupations in a market economy, although there are other factors like regulations and union agreements that can also influence wages. Step 3: Determining the most accurate statement

Based on the analysis of each statement, option c) There is considerable disagreement as to whether the federal minimum wage helps unskilled workers more than it hurts them seems to be the most accurate, as it acknowledges the ongoing debate surrounding minimum wage policies.