Question

51.

   The term "compensating differential" refers to

Select one:

a. a. a wage difference that is due to unionization of some firms but not others.

b. a. the fact that some workers live further from their jobs than do other workers.

c. a. a wage difference that arises from nonmonetary characteristics of different jobs.

d. a. the fact that workers who do similar work should be paid the same wage.

56. The poverty line is

Select one:

a. a. an absolute level of income below which a family is deemed to be in poverty.

b. a. established by the federal government.

c. a. approximately equivalent to three times the cost of providing an adequate diet.

d. a. All of the above are correct.

Answer 1

Answer : 51) The answer is option c.

Compensating differential shows that the wage rate is different for different jobs. Hence except option c other options are not correct. Therefore, option c is the correct answer.

56) The answer is option a.

Poverty line for a country is a particular income level. People whose income lies below this income level are considered as poor. Hence except option a other options are not correct. Therefore, option a is the correct answer.