Which of the Following Statements Is True of the Federal

question 9

Multiple Choice

Which of the following statements is true of the federal minimum wage?

• A) An employer may not reduce minimum wage although he or she provides other benefits like food to the employees.
• B) Managerial employees are not subject to minimum wage requirements.
• C) Apprentices cannot be paid less than minimum wages.
• D) Employees who earn tips, such as waiters and valets, are not entitled to minimum wage.

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Definitions:

Microeconomist

An economist specializing in the study of the behavior of individuals and firms in making decisions regarding the allocation of scarce resources.

Macroeconomist

An economist who studies the overall workings of an economy, including issues like inflation, unemployment, and economic growth at a large scale.

Minimum-Wage Laws

A law that establishes the minimum hourly pay rate that employers are legally allowed to offer their workers.

Council Of Economic Advisers

A group of economists who advise the President of the United States on economic policy.