Asked by
Ibtisam El-Shahat
on Dec 12, 2024
Verified
Other things constant, when the work opportunities in an occupation are unstable (that is, layoffs are common) , the hourly wages of workers in the occupation will tend to be
A) higher than the wages of workers with otherwise similar jobs.
B) lower than the wages of workers with otherwise similar jobs.
C) below market equilibrium.
D) above market equilibrium.
Unstable Work Opportunities
Employment situations that are irregular, unpredictable, and precarious, often without long-term security or benefits.
Hourly Wages
The rate of pay employees receive for one hour of work.
Market Equilibrium
A state in a market where supply equals demand, resulting in stable prices and no tendency for change until external factors impose it.
- Identify the components that shape compensation rates, looking at factors such as employment location, job requirements, and work settings.
Verified Answer
SL
Learning Objectives
- Identify the components that shape compensation rates, looking at factors such as employment location, job requirements, and work settings.