WATCH THIS VIDEO and ANSWER THE FOLLOWING QUESTIONS:

https://youtu.be/z8d1aHhfhrY

1. What do Denmark, Norway, Finland, Sweden and Switzerland have in common?

a. Each of these countries has a higher minimum wage than the U.S.

b. Each of these countries automatically adjusts its minimum wage for inflation.

c. None of these countries has a minimum wage law.

d. Each of these countries has a lower minimum wage than the U.S.

2. Shortly before the passage of the first U.S. minimum wage law, ________________.

a. the black unemployment rate was lower than the white unemployment rate

b. the black unemployment rate was higher than the white unemployment rate

c. most African Americans could not get jobs

d. African Americans did not face as much discrimination as they do today

3.If the minimum wage is increased, business owners are more likely to ___________.

a. cut prices and hire more workers

b. hire more unskilled minority teenagers

c. keep prices the same and hire more workers

d. raise their prices and/or cut back on staff

4. Minimum wage laws __________________________________________________.

a. make it easier for low - skilled people to get jobs

b. make everyone better off

c. make it harder for low - skilled people to get jobs

d. give employers an incentive to hire more workers

5. 25 cents in 1938 had the same buying power as $4.18 does today due to ________.

a. unemployment

b. inflation

c. the minimum wage

d. none of the above

6.The 1938 Fair Labor Standard Act was passed in response to _________________.

a. high wages

b. high interest rates

c. high unemployment

d. high inflation

7. Minimum wage laws _________________________________________________.

a. require that all jobs pay the same wage

b. are the same everywhere

c. are a win - win for everyone

d. vary from one country to another, and within the U.S

8. The unintended consequences of the minimum wage include __________________.

a. higher wages

b. lower prices

c. fewer job opportunities for teenagers

d. more jobs for unskilled workers

9. Inflation ____________________________________________________________.

a. does not affect the purchasing power of money

b. increases the purchasing power of money

c. reduces the purchasing power of money

d. is caused by unemployment

10. The minimum wage is_______________________________________________________________.

a. the lowest wage employers may legally pay workers

b. both answers are correct

c. none of the above

d. the average wage workers receive for their skills and effort.