Single-Rate Agreements Differentiate Wages on the Basis of Either Seniority

question 25

True/False

Single-rate agreements differentiate wages on the basis of either seniority or merit.

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Definitions:

Lifetime Employment

A practice, often associated with Japanese companies, where employees are hired with an understanding or expectation of employment security until retirement.

Performance

The act of fulfilling the duties or requirements specified in a contract or agreement.

Incidental Beneficiary

A third party who might receive a benefit from a contract between two other parties, although the contract is not primarily intended for the benefit of the third party.

Assignee

A person or entity to whom a contract or legal right is transferred.