Which of the Following Statements Is True

question 22

Multiple Choice

Which of the following statements is true?

• A) Salary is inclusive of compensation for overtime work.
• B) Hourly wage and piecework system are forms of incentives.
• C) Pay is the hourly, weekly, or monthly salary an employee earns.
• D) Total pay is divided into pay and incentives.
• E) Fringe benefits, health benefits, and 401(k) plans are a part of one's salary.

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Definitions:

Complementary Goods

Products which tend to be used together, where the use of one increases the demand for another.

Wealth

The abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions.

Flow Measure

A type of economic measurement that is recorded over a specific period of time, such as income or expenditure.

Demand Curves

A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing to purchase at different prices.