The Study of How Wages Are Set for New Brunswick

question 2

Multiple Choice

The study of how wages are set for New Brunswick teachers is classified as

• A)a macroeconomic topic.
• B)a microeconomic topic.
• C)normative economics.
• D)economics of social interest.
• E)economics of private interest.

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Definitions:

Marxist And Fordist

Concepts referring to the Marxist critique of capitalist industrial production and the Fordist model of mass production and labor standardization, respectively.

Social And Political

Relating to society and its organization or the theory and practice of politics and government.

Human Relations Theory

A management approach emphasizing the importance of social processes in the workplace and the well-being of employees in improving productivity.

Human Resources Management

The strategic approach to the effective management of people in an organization in a way that helps the business gain a competitive advantage.