The Fair Labor Standards Act originally set the minimum wage at
A) $3.00 in 1960.
B) $0.25 in 1938.
C) $1.25 in 1938.
D) $0.25 in 1983.
E) $1.25 in 1983.
B
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Credit cards
a. are considered money because they are a means of payment b. are not considered money and thus are not of importance to the monetary authority c. are not considered money but are important because they may affect how much people hold in M1 and M2 d. are counted in the money supply as part of M3 e. are considered money when held by the public
In terms of the world as a whole, imports must equal exports because
A. Every good exported by one country becomes an import for another country. B. The United Nations requires it. C. Most countries, other than the United States, have a balanced trade situation. D. It is part of international law.
If marginal benefits exceed marginal costs, it is profitable to:
A. decrease Q. B. increase Q. C. stay at that level of Q. D. All of the statements associated with this question are correct.
The demand for cocaine is believed to be relatively elastic among addicts.
Answer the following statement true (T) or false (F)