Between 1991 and 2008, the Federal Minimum Wage Increased from $4.25

question 19

Multiple Choice

Between 1991 and 2008, the federal minimum wage increased from $4.25 per hour to $6.55 per hour, while the CPI increased from 136.2 to 215.3. We can conclude from this that

• A) the minimum wage increased in nominal and in real terms.
• B) the minimum wage decreased in nominal terms but increased in real terms.
• C) the minimum wage increased in nominal terms but decreased in real terms.
• D) more information is needed to determine what happened to the real minimum wage over the period.

Recognize the role and limitations of the "caveat emptor" principle in modern commercial law.

Apply the theory of product liability and understand the conditions under which a party can be held liable.

Understand the legal frameworks surrounding negligence, strict liability, and warranty disclaimers in product liability cases.

Recognize the implications of the Restatement (Third) of Torts in product liability litigation.

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Definitions:

Twisted Strand Polypropylene Rope

Twisted strand polypropylene rope is a type of lightweight, strong, and versatile rope made from twisted strands of polypropylene fibers, used in various applications from marine to general purpose.

Grease-Laden Air

Air that contains grease particles, commonly found in environments with cooking equipment like commercial kitchens.

Commercial Kitchen Exhaust System

A ventilation system in a professional kitchen that removes heat, smoke, and airborne particles from the cooking area.

Selling Price

The price at which goods or services are sold to customers.