The Fair Labor Standards Act of 1938

question 133

Multiple Choice

The Fair Labor Standards Act of 1938

• A)Set a minimum wage of 25 cents per hour.
• B)Eliminated minimum wages created during World War I.
• C)Established maximum work hours per day.
• D)Granted women the right to work in nonclerical occupations.

---

Definitions:

Increase in Supply

A situation in which the quantity of a good or service that producers are willing and able to offer for sale rises, holding all else equal.

Increase in Demand

Occurs when more of a good or service is sought by consumers at each and every price, often represented by a rightward shift of the demand curve.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

Demand Falls

A situation where there is a decrease in the quantity of a product or service that consumers are willing and able to purchase at a given price.