Use the following to answer questions: 
-(Figure: The Minimum Wage) Use Figure: The Minimum Wage.By how much does the quantity of labour demanded fall when the government imposes a binding minimum wage of P3?
Definitions:
Federal Reserve Act
A law enacted in 1913 that established the Federal Reserve System, which is the central banking system of the United States, designed to provide the country with a safer, more flexible, and more stable monetary and financial system.
Central Banking System
The institution that manages a country's currency supply, monetary policy, and financial institutions, usually aiming to ensure economic stability.
Progressive Reforms
Initiatives and policies aimed at addressing social injustice, corruption, and economic inequality in the early 20th century United States.
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