Higher Output Is Usually Linked to Increased Overtime Payments and Greater

question 22

Multiple Choice

Higher output is usually linked to increased overtime payments and greater use of temporary staff. Senior management pay is more likely to stay constant. In other words, _____ can be considered a fixed component of the total wages paid.

• A) the salaries of senior management
• B) the number of temporary workers
• C) the overtime paid to workers
• D) the wages paid to temporary staff

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Definitions:

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.

Ppf

Production Possibility Frontier, a curve depicting all maximum output possibilities for two or more goods given a set of inputs.

Capital Goods

Long-term assets used in the production of other goods and services, such as machinery, buildings, and equipment.

Consumer Goods

Products and services that are purchased by individuals for personal consumption and satisfaction.