When Employers Use Job Experience to Screen Potential Workers on the Labour

question 52

Multiple Choice

When employers use job experience to screen potential workers on the labour market:

• A)they invite the inexperienced workers to acquire some experience.
• B)they do not discriminate among workers because such actions are illegal.
• C)they break the law.
• D)the result is higher unemployment among the inexperienced workers.

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Definitions:

Market Value

Market value is the estimated price at which an asset or service would trade in a competitive auction setting.

Employment Contract

A formal agreement between an employee and employer outlining job duties, compensation, and terms of employment.

Option Contract

A contract which grants the holder the right, but not the obligation, to buy or sell an asset at a set price on or before a certain date.

Counteroffer

A counteroffer is a response to an original offer, modifying some of its terms and thereby rejecting the original offer.