The Prevailing Wage Rate for a Given Job in a Given

question 43

Multiple Choice

The prevailing wage rate for a given job in a given labor market is called the:

• A) component wage rate
• B) indicator wage rate
• C) vector wage rate
• D) industry wage rate
• E) market wage rate

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Definitions:

Airport Currency Exchange

Facilities located within airports where travelers can exchange one country’s currency for another's, typically at market rates.

Exchange Rate

The price at which one currency can be exchanged for another currency.

Units

Refers to a measure of quantity or amount in a specified dimension such as length, mass, time, etc., or in the context of economics and finance, the smallest portion of a product or financial instrument.

Percent Saving

The percentage of the original price saved as a result of a discount or offer.