Future Business Leaders of America (FBLA) Agribusiness Practice Test

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Enhance your FBLA Agribusiness knowledge with our comprehensive test. Dive into flashcards and multiple-choice questions, complete with hints and explanations, to ensure exam success. Prepare confidently for a bright future!

Practice this question and more.

What is the federal minimum wage as of the latest regulation?

$5.00
$7.25
$10.00
$15.00

The correct answer is: $7.25

The federal minimum wage is set at $7.25 per hour, a standard that has been in effect since July 24, 2009. This figure represents the baseline wage that employers must pay their employees, providing a legal floor for earnings to ensure that workers receive a minimum compensation for their labor. Understanding this wage is important in the context of labor laws and economic factors, as it impacts millions of workers across various industries. While some states and localities have established higher minimum wages to account for cost of living differences and inflation, $7.25 remains the federally mandated minimum that employers must adhere to unless a state law supersedes it with a higher rate. The other values listed do not reflect the current federal standard, making it essential for both employers and employees to be aware of the legal wage requirement for compliance and financial planning.