Which of the Following Is True of Wage Differentials Between

question 72

Multiple Choice

Which of the following is true of wage differentials between different occupations in equilibrium?

• A)Wages cannot differ across occupations if there is free mobility of labor.
• B)Wages can differ across occupations due to differences in training,abilities,and preferences.
• C)Wages can differ across occupations depending on the size of the labor force in the economy.
• D)Wages cannot differ across occupations if there are equal opportunity employment laws.

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Definitions:

Equivalent Unit

A unit of production expressed in terms of the amount of materials, labor, or overhead necessary to complete one unit of production.

Process Costing System

An accounting method used in manufacturing where costs are assigned to processes or departments, suitable for homogeneous products.

Trained Individuals

People who have received specialized education or skills training relevant to a particular job or task.

Cost Information

Data related to the production, acquisition, or maintenance of goods and services, important for managerial decision-making.