Answer:
Special Considerations
Explanation:
. Like all price floors, a minimum wage law only has a measurable effect when set above the market clearing price for a transaction. For example, a minimum wage of $10 per hour will not affect workers whose marginal productivity in a given line of work is greater than $10 per hour.The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). The federal minimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws.
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