Compensating Differentials Are

question 9

Multiple Choice

Compensating differentials are

• A)non-monetary benefits from being employed, such as health-care benefits.
• B)wages paid to workers where the supply of labor is great relative to demand.
• C)higher wages that compensate workers for unpleasant aspects of a job.
• D)higher wages that compensate the more experienced workers in a field.

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Definitions:

Privity of Contract

A legal doctrine stating that only parties involved in a contract are entitled to enforce it or be sued under it.

Royal Bank

Typically refers to a bank that has been granted a royal charter, recognizing it as a privileged financial institution.

Equitable Assignment

An equitable assignment is the assignment or transfer of rights or interests in a property or contract to another party, recognized by equity and not necessarily by law.

Privity of Contract

A principle stating that only the parties involved in the contract have the rights and obligations under that contract.