The U.S.Congress First Instituted a Minimum Wage in

question 200

Multiple Choice

The U.S.Congress first instituted a minimum wage in

• A)1776.
• B)1812.
• C)1938.
• D)1975.

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Definitions:

Trade

The process of purchasing, vending, or trading products and services among individuals, corporations, or nations.

Trade

The exchange of goods, services, or both within and between countries.

Deadweight Loss

An economic inefficiency occurring when a market outcome does not maximize total surplus due to a distortion, like a tax or subsidy.

Tariff

A tax imposed by a government on imported goods, typically to protect domestic industries or to generate revenue.