CONTEMPORARY AMERICA 1992 2013
BILL CLINTON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$4.30
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$4.75
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$5.15; nearly a whole dollar
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None of the above
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Detailed explanation-1: -Clinton signed North American Free Trade Agreement (NAFTA) into law, along with many other free trade agreements. He also enacted significant welfare reform. His deregulation of finance (both tacit and overt through the Gramm–Leach–Bliley Act) has been criticized as a contributing factor to the Great Recession.
Detailed explanation-2: -The federal minimum wage for covered nonexempt employees is $7.25 per hour.
Detailed explanation-3: -If the minimum wage is set too high, it will likely affect a large number of workers and this could have unexpectedly large impacts on average labour costs and on the total wage bill that employers must pay. This, in turn, could trigger price inflation and/or reduce the level of employment.