For Wage Rates to Be the Same in Various Labor

question 33

Multiple Choice

For wage rates to be the same in various labor markets, four conditions must exist: (1) demand for every type of labor must be __________; (2) no special __________ aspects to any job; (3) all labor is ultimately __________ and can __________ be trained for different types of employment; and (4) all labor is mobile at __________.

• A)heterogeneous; money; homogeneous; costlessly; minimum cost
• B)the same; nonpecuniary; homogeneous; costlessly; zero cost
• C)high; training; homogeneous; costlessly; zero cost
• D)high; nonpecuniary; heterogeneous; costlessly; minimum cost

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Definitions:

Interest Rates

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage rate.

Beta

A measure of the volatility, or systematic risk, of a security or portfolio compared to the market as a whole.

Portfolio

A diverse collection of financial investments like stocks, bonds, commodities, and real estate held by an individual or an institutional investor.

Expected Return

The anticipated return on an investment, calculated based on the probabilities of various outcomes.