The Arrangements in Which an Employee Works the Required Number

question 31

Multiple Choice

The arrangements in which an employee works the required number of hours, typically 40, but does so in fewer than 5 days are called _____.

• A) flexible work hour plans
• B) part-time work programs
• C) freelancing work programs
• D) compressed workweeks

---

Definitions:

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in labor market equilibrium.

Labor

Human mental and physical contributions employed in the manufacturing of goods and services.

Marginal Product

The extra production obtained when one additional unit of a specific input is used, while all other inputs stay unchanged.

Labor Supply Curve

A graphical representation showing the relationship between the quantity of labor supplied and the wage rate in a given market.