Which of the Following Is Most Likely to Reduce the Nominal

question 58

Multiple Choice

Which of the following is most likely to reduce the nominal market wage in a job category?

• A) The job requires employees to work the night shift from 11 p.m. to 7 a.m.
• B) The job is prestigious, and the work is quite interesting.
• C) The job is widely viewed as dangerous.
• D) The job requires employees to move from city to city quite often.

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Definitions:

RRSP

Registered Retirement Savings Plan, a retirement savings and investing vehicle for employees and the self-employed in Canada that offers tax benefits.

Ordinary Annuity

A series of equal payments made at regular intervals, with the interest compounding at the end of each period; commonly found in retirement accounts and loan repayments.

Ordinary Annuity

A financial product resulting in payments of a fixed amount received or paid at the end of period intervals.

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, with this process happening every month.