The Minimum Wage Laws Seek to

question 368

Multiple Choice

The minimum wage laws seek to

• A) penalize employers that are not complying with labor laws.
• B) assure a minimum standard of payment for work.
• C) assure that all workers are paid the same wage rate.
• D) help teenagers find work.

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Definitions:

Market Activity

The collective buying and selling of goods and services, including financial transactions, in an economy.

Government Activity

Actions taken by a government to influence its country's economy, including policies and programs.

Voluntary Exchange

An economic transaction where both parties agree to trade goods or services by mutual consent without coercion.

Tax Revenue

The income that the government receives from taxation of individuals and businesses.