The Idea of Compensating Differences Is Used

question 290

Multiple Choice

The idea of compensating differences is used

• A) by inclusive unions as an argument in bargaining for wage rate increases.
• B) to justify the application of minimum wages to low-wage labor markets.
• C) to explain the divergence between wage rates and marginal resource cost.
• D) to explain wage rate differences based on differing nonmonetary aspects of jobs.

---

Definitions:

Taste Aversions

A learned response where an individual avoids consuming a particular food or drink because it has been associated with illness or a negative experience.

Coyotes

Medium-sized canines native to North America known for their adaptability to diverse habitats, including urban areas, and their vocalizations, such as howls and yips.

Conditioned Taste Aversion

The learned avoidance of a particular food following a negative experience, such as illness, associated with that food.

Risky Behavior

Actions undertaken despite the potential for negative consequences, often evaluated in contexts of health, finance, and safety.