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- Subject
- Income Inequalityeconomics-mcqs › income-inequality
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
A salesperson without a job is offered a position that pays Rs500 per week but declines it, opting to keep looking for a higher-paying job. What represents the cost of continuing the job search?
Multiple choice question for Income Inequality. Select an option, then review the explanation below.
Explanation
The cost of continuing the job search includes not only the Rs500 weekly wage he forgoes by rejecting the job offer but also any extra costs he incurs while searching. Therefore, the total cost is the sum of the foregone salary and the monetary expenses related to the job search.
More Income Inequality MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes the Benazir Benefit Income Scheme?
- 2.Which category of tax does VAT best represent?
- 3.When a tax can be transferred, what determines the actual burden of the tax?
- 4.What does tax incidence refer to?
- 5.What does a progressive income tax system imply about the tax rate for individuals with higher earnings?