Which of the Following Is a Shift in Approaches That

question 71

Multiple Choice

Which of the following is a shift in approaches that has been made by many employers in response to an aging workforce?

• A)More investment in continuing education,seminars,and workshops
• B)More effort spent in recruiting younger workers
• C)Less interest in providing health care because older workers require too much investment
• D)More investment and training to bring younger workers up to the knowledge level of older workers

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Definitions:

Substitution Effect

The change in consumption patterns due to a change in relative prices, where consumers replace more expensive items with less costly alternatives.

Inferior Good

Items for which demand falls when the income levels of buyers go up, unlike standard goods that see an increase in demand with rising incomes.

Income Effect

How shifts in the financial status of individuals or whole economies affect their purchasing desires for specific goods or services.

Price Increase

An increase in the price of products or services.