The Equal Pay Act Allows Different Pay Based on Seniority,merit,quantity

question 82

Multiple Choice

The Equal Pay Act allows different pay based on seniority,merit,quantity or quality of production,or factor other than sex.Which of the following proposed laws would limit "factor other than sex" to only factors that are bona fide,job-related,and consistent with business necessity?

• A)National Minimum Wage Act
• B)Lily Ledbetter Fair Pay Act
• C)Fair Minimum Wage Act
• D)Paycheck Fairness Act
• E)Fair Labor Standards Act

Recognize the potential effects of far-sighted consumer behavior on policy effectiveness.

Understand the concept of political business cycles and the role of monetary policy within these cycles.

Describe the benefits and costs associated with low levels of inflation and the rationale behind targeting zero inflation.

Identify the Federal Reserve's legally mandated goals and the challenges of balancing these objectives.

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Definitions:

Operations Management

Management's area of responsibility that involves planning and controlling the procedures of production and reengineering business activities in the making of goods or services.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Service Sector

A segment of the economy that involves providing services, as opposed to producing goods, including sectors like retail, healthcare, and education.

Manufacturing Sector

The sector of the economy that is engaged in the production of goods through the processing of raw materials and components into finished products.