The modern concept of a "living wage" is most similar to _____.
A) marginal productivity wage
B) exchange value
C) just wage doctrine
D) bourse

Question

Quizplus · Accepted Answer

The just wage doctrine is a concept rooted in Catholic social teaching that argues for a wage that is sufficient to support a worker's basic needs and those of their family. This is similar to the modern concept of a "living wage," which also aims to provide workers with enough income to cover their basic needs and afford a decent quality of life. Marginal productivity wage is a theory that suggests that workers are paid based on the value of the marginal product they produce, while exchange value refers to the price at which goods and services are traded in the marketplace. Bourse is a French term for a stock exchange. These concepts are not directly related to the idea of a living wage.

The Modern Concept of a "Living Wage" Is Most Similar