INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 108

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-You made an $800 mortgage payment.The interest on the mortgage for this month was $850.You have just experienced [negative | positive] amortization.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the

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Definitions:

Wage Rate

The amount of compensation workers receive for their labor per unit of time, which can be hourly, daily, or annually basis.

Efficiency Wage

Wage that a firm will pay to an employee as an incentive not to shirk.

Shirking

The behavior of employees reducing their effort or productivity, especially when their work effort is unmonitored or difficult to measure.

Unemployment

The situation in which individuals who are capable of working and are actively seeking employment are unable to find a job.