Suppose a Cook at a Diamond Mining Camp in Canada's

question 112

Multiple Choice

Suppose a cook at a diamond mining camp in Canada's North earns a much higher wage than a cook with similar training and experience at an office building in Halifax. Economists would likely call this

• A) an acquired difference.
• B) an intrinsic difference.
• C) an equilibrium differential.
• D) a compensating differential.
• E) a temporary factor- price differential.

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Definitions:

Performance Appraisals

The evaluation process through which employee performance is assessed, typically on an annual or semi-annual basis.

Reliable

The quality of being consistently good in performance, accuracy, or durability, often used to describe products, services, or sources of information.

Valid

Having a sound basis in logic or fact; accurately representing the truth or reality.

Performance Appraisal

A process by which an employee's job performance is evaluated, typically by their supervisor, to provide feedback, identify areas for improvement, and guide decisions regarding promotions, pay raises, and development opportunities.