If a Producer Can Use Its Factors of Production to Produce

question 65

Multiple Choice

If a producer can use its factors of production to produce either good A or good B,then a rise in the price of A

• A)increases the supply of B.
• B)decreases the supply of A.
• C)increases the supply of A.
• D)decreases the supply of B.
• E)increases the demand for A.

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Definitions:

Pay Equity

The principle of offering equal pay for work of equal value, aimed at eliminating gender and other forms of wage discrimination.

Comparable Value

A principle in employment and pay equity that jobs of equal value or worth to an organization should receive similar compensation, regardless of the job occupant's gender or other characteristics.

Employment Equity Act

Legislation that promotes fair treatment and elimination of discrimination in the workplace, often focusing on designated groups such as women, minorities, and people with disabilities.

Federal Jurisdiction

Refers to the legal scope and authority of the federal government to legislate and enforce laws.