What Is an Advantage of a Two-Tier Wage System

question 57

Multiple Choice

What is an advantage of a two-tier wage system?

• A) It helps move jobs out of the country.
• B) It helps eliminate jobs without any legal hassles.
• C) It helps reduce labor costs without cutting employees' existing salaries.
• D) It helps provide more pay to new employees.
• E) It provides better standards for benchmarking.

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Definitions:

Infant Mortality

The death of a child under the age of one year, often measured as the infant mortality rate per thousand live births, indicating a society's health status.

Multinational Corporations

Corporations that conduct business across national borders.

Peripheral Nations

Countries that are not dominant in the global economy, often characterized by lower levels of industrialization, weaker institutions, and lower living standards compared to core nations.

Colonialism

System by which Western nations became wealthy by taking raw materials from other societies (the colonized) and reaping profits from products finished in the homeland.