The Fact That Workers Receive Different Wages Is Likely Caused

question 118

Multiple Choice

The fact that workers receive different wages is likely caused by:

• A)government regulation that restricts the free movement of wages
• B)the fact that some firms make more money than others
• C)conditions of supply and demand in different labour markets
• D)stronger unions in some industries

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Definitions:

Economically Equivalent

Economically equivalent means having the same or similar economic effect or value when comparing two or more financial situations or variables.

Economic Value

Refers to the worth of a good or service, as determined by the market or its utility to an individual or business.

Missing Value

An absent data point or piece of information that was not recorded or is unknown in a dataset or equation.

Scheduled Payments

Regular, predetermined payments made over a period of time in relation to debts or loans.