Which of the Following Conditions Is Not Necessary for Wage

question 119

Multiple Choice

Which of the following conditions is not necessary for wage rates to be identical in every labor market in both the short run and the long run?

• A)Demand for labor is different in each market.
• B)Nonpecuniary factors in each job are the same.
• C)All labor is homogeneous.
• D)All labor has zero costs of mobility.

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Definitions:

CGB Futures

Futures contracts based on Canadian Government Bonds, which allow investors to speculate on or hedge against future changes in the value of these bonds.

Quoted Price

The current price at which an asset or service can be bought or sold, often provided in financial markets or by vendors.

Natural Hedge

A transaction between two counterparties where both parties’ risks are reduced.

Derivatives Transaction

A financial agreement whose value is based on, or derived from, the value of an underlying asset or group of assets.