Westland and Oceania Have Just Started to Trade with Each

question 202

Multiple Choice

Westland and Oceania have just started to trade with each other. Westland exports goods produced with skilled labor and imports goods made with unskilled labor from Oceania. Over time, we would expect that in Oceania the wages of unskilled workers will

• A)rise, and the wages of skilled labor will fall.
• B)fall, and the wages of skilled labor will rise.
• C)rise, and the wages of skilled labor will rise.
• D)fall, and the wages of skilled labor will fall.

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Definitions:

Performance Rating

An assessment tool used to evaluate an individual's job performance, typically as a numerical or descriptive scale.

Employees

Individuals who are hired by a business or organization to perform work in exchange for compensation.

Merit Pay Systems

Compensation methods where employees' performance is directly tied to their salary increments, bonuses, or promotions, aiming to reward high performance.

Performance Contributions

The measurable impacts or outcomes that an individual's actions have on achieving organizational objectives.