Your Company Offers You Pay for Time Not Worked, Disability

question 36

Multiple Choice

Your company offers you pay for time not worked, disability benefits, supplemental medical coverage, and a full range of free employee services. These items refer to which component of the compensation mix?

• A) direct pay
• B) base pay
• C) indirect pay
• D) performance pay

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that an individual can afford, given their income and the prices of the goods.

Money Income

The overall sum of financial income earned by a person or family, comprising earnings from employment, salaries, and various other income types.

Indifference Curves

Graphical representations used in microeconomics to show combinations of two goods that provide equal satisfaction and utility to a consumer.

Budget Lines

A graphical representation of all possible combinations of two goods which a consumer can purchase at given prices and within the constraints of his/her income.