State and Local Governments Are Prohibited from Complying with the Overtime

question 60

True/False

State and local governments are prohibited from complying with the overtime provisions of the Fair Labor Standards Act by giving employees compensatory time in lieu of overtime pay.

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Definitions:

Tax Credit

A tax incentive which allows taxpayers to subtract the amount of the credit from the total they owe to the state.

Loanable Funds

Money available for lending and borrowing, determined by the supply of savings and demand for loans.

Rightward

Used to describe movement towards the right, often in the context of shifts in supply or demand curves in economic graphs.

Tax Rate

The rate at which the government taxes an individual or corporation's income or earnings.