You Find That to Attract a Sufficient Number of Workers

question 62

Multiple Choice

You find that to attract a sufficient number of workers you have to pay them more dollars.Given the price of your output you determine you are paying your workers more in goods than before.Which of the following has risen?

• A)The real and nominal value of the wages you pay.
• B)The real but not the nominal value of wages you pay.
• C)The nominal but not the real value of the wages you pay.
• D)Neither the real nor the nominal value of the wages you pay.

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Definitions:

Deviated Specifications

Instances where the actual specifications of a product or service differ from the initially agreed or standard specifications.

Contract Price

Contract price is the total financial cost agreed upon by all parties for the execution of the terms of a contract.

Usable Barn

A structure that is in a suitable condition for storage or housing of agricultural equipment, livestock, or farm produce.

Condition Precedent

A contractual clause requiring certain conditions to be fulfilled before a contract becomes effective or an obligation is to be performed.