One Effect That Globalization Has Had on Employment and Income

question 21

Multiple Choice

One effect that globalization has had on employment and income is:

• A) Globalization has indirectly stimulated employment in some industries by increasing the spending power of consumers.
• B) Globalization has increased domestic wages.
• C) Globalization has decreased the number of available jobs in virtually all industries.
• D) None of the above

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Definitions:

Post-Employment Benefits

Benefits, other than pensions, that a company provides to its retired employees, such as life insurance and medical plans.

Compensated Absences

Employee benefits that provide pay for holidays, sick leave, and other forms of absence from service that are compensated by the employer.

AASB 119

The Australian Accounting Standards Board standard which outlines the accounting requirements for employee benefits, including wages, salaries, and pension plans.

Defined Benefit Post-Employment Fund

A pension plan where the benefits that an employee will receive upon retirement are defined in advance.