A Skill-Based Pay System Is Based on the Assumption That

question 58

True/False

A skill-based pay system is based on the assumption that workers who acquire additional skills can make a greater contribution to the organization and, consequently, should be paid more.

---

Definitions:

Central Bank

A nation's principal monetary authority, which regulates the money supply and interest rates in pursuit of economic objectives.

Money Supply

The cumulative total of monetary resources within an economy at a specific period.

Unemployment Rate

The rate of joblessness among individuals in the labor force who are actively seeking work.

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that aims to manage the supply of oil to stabilize oil market prices and ensure efficient, economic and regular supply to consumers.