How do companies usually set their wage rates when they commence operations in foreign countries? a.as low as they can, given the local unemployment rates b.at, or slightly below, the prevailing wage for local companies c.at the average of the prevailing wage rates for local companies d.at, or slightly higher than, the prevailing wage for local companiesThe textile workers at a local company have had a stressful weekend. Their union has been engaged in contract negotiations for the past 72 hours. When those on the 6 a.m. shift arrive at the factory the doors are chained and they cannot get in. What is this situation called? a.slowdown b.deadlock c.walk-out d.lock-out

1. The answer is - b. At, or slightly below, the prevailing wage for local companies.

Answered: How do companies usually set their wage…

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter13: Earnings, Productivity, And The Job Market

Section: Chapter Questions

Problem 11CQ

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How do companies usually set their wage rates when they commence operations in foreign countries?

	a.	as low as they can, given the local unemployment rates
	b.	at, or slightly below, the prevailing wage for local companies
	c.	at the average of the prevailing wage rates for local companies
	d.	at, or slightly higher than, the prevailing wage for local companies

The textile workers at a local company have had a stressful weekend. Their union has been engaged in contract negotiations for the past 72 hours. When those on the 6 a.m. shift arrive at the factory the doors are chained and they cannot get in. What is this situation called?

	a.	slowdown
	b.	deadlock
	c.	walk-out
	d.	lock-out

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