Wages
What is the minimum wage in the US?
$7.25
What might workers do when they are being mistreated or getting extremely low wages or bad working conditions?
Go on strike
What is it called when inherited wealth gets passed down through generations
intergenerational wealth transfer
What US group is charge of taxes?
The IRS
Who runs a corporation?
CEO
What country has the highest minimum wage?
Luxemburg
How many hours is a full time job in a week?
40 hours
What proportion of wealth do the top 1% in the US own?
about 30%
What is a tax of an import or export called?
Tarriff
What is the term for a part of a corporation that someone gets when they buy a share?
Stock
How many states use the federal minimum wage?
21 states
What is the name of the international organization that sets labor standards/practices?
The International Labor Organization (ILO)
What proportion of wealth do the bottom 50% own in the US?
about 2%
What year was the first federal income tax?
During the Civil War (1961)
What is the term when a corporation dominates an industry?
Monopoly
What is it called when a company relocates to another country with lower wages to reduce costs?
Offshoring
What middle eastern country faced criticism for labor conditions for migrant workers doing construction (Hint: related to World Cup stadiums)
Qatar
What proportion of wealth do the top 10% richest people in the world own?
85%
Name at least 2 states without personal tax income
Florida, Texas, Alaska, Wyoming, Nevada, Tennessee, New Hampshire, South Dakota, Washington
What is the corporate tax rate in the US?
21%
What US Law created the minimum wage?
The Fair Labor Standards Act of 1938
In 1911 there was a fire inside a buiding that had the doors and stairwells locked so the workers (all women and children) couldn't leave. What was the name of the fire?
Triangle Shirtwaist Factory Fire
What country has the lowest wealth inequality?
Slovakia
Name at least two countries without any personal income taxes.
United Arab Emirates, Saudia Arabai, Monaco, Oman, Bahrain, Brunei, Qatar, Kuwait, Vanuatu
What company has the most about of employees and how many employees?
Walmart has about 2mil employees