Unemployment Is a Concern to the Nation Because

question 78

Multiple Choice

Unemployment is a concern to the nation because

• A)if the economy is to reach its full potential, all individuals should be given the opportunity to work.
• B)the government budget should be balanced and the more workers that work, the greater the taxes collected.
• C)unemployment will cause a trade deficit.
• D)riot control costs money.

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Definitions:

Broadbanding

A method of salary structure that consolidates a large number of pay grades into fewer broad bands to provide greater flexibility in employee movement and compensation.

Red Circle Rates

Pay rates that are higher than the typical range for a job or position, often given to retain employees with critical skills or experience.

Piece Rate

A payment method where workers are compensated based on the amount of work completed or products produced, rather than receiving a fixed hourly wage.

Wage Compression

A situation where differences in wages among employees in an organization become minimized, often due to external wage pressures or internal pay equity initiatives.