The Fair Labor Standards Act Established a Federal Minimum Wage

question 82

True/False

The Fair Labor Standards Act established a federal minimum wage.

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Definitions:

Trade Surplus

A situation where a country's exports exceed its imports for a given period, leading to a positive balance of trade.

Exports

Items or services dispatched from one country to another for the intent of trade or sale.

Imports

Commodities or offerings that are carried from abroad into a nation with the intent to sell them.

Trade Deficit

A condition where the value of a nation's imports surpasses that of its exports, leading to a trade deficit.