If Labour Markets Were Perfectly Competitive

question 90

Multiple Choice

If labour markets were perfectly competitive,

• A) working conditions would be the same for all jobs.
• B) discrimination could not create wage differentials.
• C) wage differentials could still exist because of differences in workers and jobs.
• D) all workers would achieve the same levels of education and experience.
• E) all workers would eventually earn the same wage.

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Definitions:

Publicly Held Corporations

Companies that have issued securities through an initial public offering (IPO) and are traded on at least one stock exchange or in the over-the-counter market.

Proxy

A person authorized to act on behalf of another, especially in voting at a shareholders' meeting.

Board Meeting

A formal gathering of the board of directors of an organization, company, or corporation to discuss and decide on company policy and management issues.

Liable

Being legally responsible or obligated.