If you believe that a worker should be paid on the basis of what he or she produced, you believe in
A. the egalitarian principle.
B. the comparative worth principle.
C. the benefits standard.
D. the productivity standard.
Answer: D
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A trade surplus occurs when a country's exports exceed that country's imports
Indicate whether the statement is true or false
Why do people refuse to pay for public goods?
What will be an ideal response?
The figure illustrates the demand for peanuts. If the price falls from $12 to $9 a bag, total revenue will ________, and if the price rises from $3 to $6 a bag, total revenue will ________
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease
Which of the following is NOT a correct description of opportunity cost of capital?
A) It is the normal rate of return on investment. B) It is normally included in accounting costs. C) It is the income sacrificed by not investing in another firm. D) It is an implicit cost.