The term compensating wage differential refers to:
a. the bargaining capacity of a monoposonist in the labor market.
b. the wage differences that arise from differences in the risk involved in different jobs.
c. the criteria on which a firm offers a 401K plan to all its employees or just some employees.
d. the wage differences that arise from difference in productivity of the workers in a firm.
e. the negotiating power of the trade union.
b
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Life-cycle saving is saving:
A. for protection against unexpected setbacks, such as the loss of a job or a medical emergency. B. to pay life-insurance premiums. C. for the purpose of leaving an inheritance. D. to meet long-term objectives, such as retirement, college attendance, or the purchase of a home.
Which of the following are included in the M1 definition of money?
A) currency and checkable deposits B) currency and savings deposits C) traveler's checks and money market mutual funds D) currency and small time deposits E) traveler's checks and savings deposits
An advantage of the corporation over other forms of business organization is that
A) the owners have unlimited liability. B) a corporation's profits are taxed only once. C) large-scale, low-cost capital is more readily available. D) the decision-making structure is simple.
Refer to Figure 4.4. At an interest rate of 7%,
A) Foreign borrowers have an incentive to offer lenders in the United States an interest rate greater than 7%. B) Foreign lenders have an incentive to offer borrowers in the United States an interest rate less than 7%. C) U.S. lenders have an incentive to offer borrowers in the rest of the world an interest rate of 7%. D) U.S. borrowers have an incentive to offer U.S. lenders an interest rate greater than 7%.