In Rhode Island, the minimum hourly wage that can be paid to someone above the age of 14 is $6.50. Minimum wage is an example of:
A)government hegemony
B)fiscal responsibility
C)social engineering
D)price floor

Question

Quizplus · Accepted Answer

Minimum wage is an example of price floor.
Key Takeaway: Price floors are government set limits on the minimum amounts that can be paid for goods. A minimum wage paid to workers is an example of a price floor and is devised to ensure that people are given adequate wages for survival.

In Rhode Island, the Minimum Hourly Wage That Can Be