Puerto Rico's minimum wage increased dramatically as result of the 1938 Fair Labor Standards Act. This legislation:
A) caused many Puerto Rican firms to go bankrupt, sending unemployment soaring.
B) is a case in point that minimum wage increases have different effects in non-capitalist countries.
C) provided a counterexample to the claim that minimum wage increases cause unemployment.
D) had little effect on Puerto Rican labor markets because the minimum wage increase was quite modest.
Correct Answer:
Verified
Q219: Which statement(s) is TRUE?
I. Price floors are
Q220: A binding price floor leads to a(n):
A)
Q221: (Figure: Labor Market 3 Q222: We commonly associate _ with agricultural products.![]()
A)
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