Which of the Following Would Prevent a Single Equilibrium Wage

question 24

Multiple Choice

Which of the following would prevent a single equilibrium wage existing across all labor markets?

• A) a competitive labor market
• B) workers having various skills and preferences
• C) firms being free to enter any of the labor markets
• D) potential workers being able to freely enter any of the labor markets
• E) a payroll tax paid equally by workers and firms

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Definitions:

Round-Trip Transaction

A term referring to the complete process of buying and then selling a financial instrument, or vice versa.

Exchange Rates

The evaluation of one currency's value for the intention of exchanging it for another, indicating how much one currency equates to in another currency.

Airport Kiosk

An automated terminal located at airports that allows passengers to perform tasks such as check-in, ticket printing, and information access.

GST

GST stands for Goods and Services Tax, which is a value-added tax levied on most goods and services sold for domestic consumption.