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Holly and Emily Both Have a Bachelor's Degree in Nursing

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Holly and Emily both have a bachelor's degree in nursing from the same university.Both have been nurses for 8 years.Holly works from 11 P.M.until 7 A.M. ,and Emily works from 7 A.M.until 3 P.M.Holly's salary is $1 000 per month,which is higher than Emily's salary.This is an example of an efficiency wage disparity.


Definitions:

Personally Liable

The legal responsibility of an individual to settle a debt or obligation from their own assets.

False Pretenses

A fraudulent and intentional misrepresentation of fact made by one person to another to induce the other to give up some valuable thing or relinquish a legal right.

Ponzi Scheme

A fraudulent investment scam promising high rates of return with little risk, which pays profits to earlier investors with funds from more recent investors.

False Entry

A fraudulent entry made in a book of accounts or public record, intended to misrepresent the true state of affairs.

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