Image: iStockphoto.com/Katie Nesling
Which countries were the first to establish an hourly minimum wage?
Australia and New Zealand
In the 1890s, a century after the exploitation of factory workers began with the Industrial Revolution, Australia and New Zealand introduced minimum wage laws.
Scandinavia and Germany
The United States and Great Britain
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What are the basic components of the minimum wage laws?
a minimum hourly wage that would be enough to cover basic living costs if working a 40 hour week
a minimum hourly wage that is in line with inflation rates
an eight-hour workday, overtime pay and a minimum hourly wage
The minimum wage laws established working conditions that today we take for granted: an eight-hour workday, overtime pay and a minimum hourly wage.
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When did the U.S. introduce minimum wage regulations?
in 1901
in 1925
in 1938
In 1938, Franklin D. Roosevelt introduced minimum wage regulations with his Fair Labor Standards Act (FLSA). It took years before the Supreme Court allowed it, after first ruling that it violated the "liberty of contract" between employer and employee.
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What is the current federal minimum wage?
$ 5.68
$ 6. 89
$ 7.25
The federal minimum wage is $ 7.25 an hour, as of July 24, 2009. The first minimum wage, in 1938, was $ 0.25 an hour.
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When states have a different minimal wage regulation than the federal one, which amount is paid?
the higher of the two
Many states have their own minimum wage laws, Kansas being the lowest with $ 2.65 an hour and Washington having the highest with $8.55 an hour. Not to worry though, the employer must pay the higher of the two amounts.
the lower of the two
the average of the two
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In the U.S., how many hours a week do you need to work to qualify for the minimum wage?
five hours
eight hours
You need to work eight hours a week, and earn at least $ 1,500 a year from a single employer.
14 hours
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How many dollars' worth of tips do waiters need to get before they are exempt from being paid the regular minimum wage?
$30
If a waiter, or someone in another "tipped" profession, earns at least $30 worth of tips in a month, then he or she needs to be paid only $2.13 an hour. If they earn less than that in tips, then the minimum wage applies to them.
$40
$50
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In the U.S., which professions are exempt from minimum wage regulations?
the entertainment industry
managers, executives and other professionals
Because they earn salaries, and not hourly wages, managers, executives and other professionals are exempt from the minimum wage regulations.
health care professions
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How much business does a company need to do to be obligated to pay its workers the minimum wage?
more than $ 100,000 a year in sales
more than $ 200,000 a year in sales
more than $ 500,000 a year in sales
A company needs to make at least $ 500,000 a year to be obligated to pay its workers the minimum wage.
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What do many European countries rely on to ensure their workers are treated fairly, instead of having a minimum wage?
the integrity of employers
open market forces
labor unions
In many European countries there are no minimum wage laws; instead they rely on labor unions to negotiate better working conditions for employees.
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Whom does the British minimum wage law cover?
all employed persons
The British minimum wage laws are broader than those of the U.S. They cover all employees.
British citizens, but not other EU members
adults over 22 only
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What is the minimum wage in Britain for an adult?
£ 3.2
£ 5.73
The minimum hourly wage for an adult over 22 in Britain is £ 5.73. For someone aged between 18 and 21 it is £ 4.77 an hour, and for a youth (16-17), its £ 3.53 an hour.
£ 6.1
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When were the first minimum wage laws introduced in China?
1988
1999
2004
Minimum wage laws were introduced in China in 2004. They went up significantly in 2008.
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What is a suggested alternative to fighting poverty rather than by having minimum wage laws?
more flexible unemployment benefits
tax rebates
Tax rebates may be a better alterative to minimum wage laws. This way the burden of eliminating poverty falls on all tax payers equally, instead of on business owners.
better education
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According to some, what is the biggest culprit in causing inflation?
minimum wage laws
Critics of minimum wage laws say that these laws are the biggest culprit in cost-push inflation, because employers must raise the price of the goods they produce to compensate for the increased wages they are obligated to pay.
price of housing
over-production of money
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You Got:
/15
iStockphoto.com/Katie Nesling
