Which of the Following Is an External Factor That Can

question 82

Multiple Choice

Which of the following is an external factor that can influence the wage mix?

• A)the employer's ability to pay
• B)the cost of living
• C)the worth of the job
• D)the employee's relative worth

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Definitions:

Keynesian Economists

Economists who follow the principles of John Maynard Keynes, emphasizing the need for government intervention to manage economic cycles and maintain full employment.

Economics

The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.

Regulatory Capture

A situation where regulatory agencies, created to act in the public's interest, instead advance the commercial or special concerns of the industry or sector they are supposed to regulate.

Environmental Protection

The practice of safeguarding the natural environment through conservation, regulation, and sustainable practices.