The Fair Labor Standards Act was significant because it
a. created the National Labor Relations Board (NLRB) to oversee union elections and collective bargaining between labor and industry.
b. created the minimum wage.
c. made changes in the American financial regulatory environment that affect all federal financial regulatory agencies and almost every part of the nation's financial services industry.
d. outlawed the so-called closed shop, but it permitted the "union shop" in those states that had right-to-work laws.
Answer: b. created the minimum wage.
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