What Is the Federal Minimum Wage Per Hour in the U.S

question 66

Multiple Choice

What is the federal minimum wage per hour in the U.S.?

• A) $7.25
• B) $8.30
• C) $5.30
• D) $6.50
• E) $10.00

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Definitions:

Federal Tax System

The mechanism by which the United States government collects taxes from individuals and businesses to fund public services and infrastructure.

Progressive

In economics, refers to taxation or policies that proportionally take more from those who have more income or wealth.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied of a good responds infinitely or extremely to changes in its price.

Excise Tax

A tax applied on specific goods, such as tobacco and alcohol, usually to discourage their use or raise government revenue.