Prevailing Wage Laws _____

question 35

Multiple Choice

Prevailing wage laws _____.

• A) set pay for work done to produce goods and services contracted by the state government
• B) are the maximum wages that must be paid for work done on covered government projects or purchases
• C) require that contractors determine the "flat rate" for construction labor in an area
• D) was passed in response to conditions on projects such as the construction of the Hoover Dam during the Depression

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Definitions:

Ownership Percentage

The share or portion of a company that is owned by an individual or entity, typically expressed as a percentage of total outstanding shares.

Voting Stock

Shares that give the shareholder the right to vote on matters of corporate policy and the election of the board of directors.

Common Stock

Shares representing ownership in a corporation, entitling the shareholder to a portion of the corporation's profits and a vote in shareholder meetings.

Preferred Stock

Preferred stock is a class of ownership in a corporation that has a higher claim on its assets and earnings than common stock, typically coming with dividend priority.