ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Real wages are declining, undermining purchasing power Key structural changes in the labour markets in recent decades – namely, the removal of wage indexation and an increase in employer market power – now mean less upward pressure on wages, despite tight labour markets.
Detailed explanation-2: -Skill-based pay is a salary system that determines an employee’s pay based on his or her knowledge, experience, education or specialized training. Depending on the company, the employee might also receive a higher salary for earning formal certification in his or her industry.
Detailed explanation-3: -There are three kinds of wages minimum wage, fair wage & living wage.
Detailed explanation-4: -Credentials. Experience and skill. Industry or employer. Job tasks. Geographic location. Success and performance.