Featherbedding May Be Characterized As

question 7

Multiple Choice

Featherbedding may be characterized as:

• A) requiring standby crews.
• B) an exaggerated spreading of the work load among several workers to provide better job security
• C) payment for unneeded workers.
• D) jobs that duplicate other jobs already being done.
• E) all of these

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Definitions:

Permanent Surplus

A situation in which the supply of a particular good or service persistently exceeds demand, often leading to long-term price declines.

Price Support Payments

are subsidies or financial assistance provided by the government to farmers or producers to maintain the market price of an agricultural product above its market equilibrium.

Minimum Wage Law

Minimum Wage Law is legislation that sets the lowest hourly rate that can be paid to workers, aiming to ensure a minimum standard of living for employees.

Price Floor

A government or group-imposed limit on how low a price can be charged for a product, usually above the equilibrium price, to protect producers.