Final answer:
Overtime pay is required if there is a written or electronic agreement to exceed work hours, with certain exceptions. These exceptions vary depending on jurisdiction and specific circumstances. Whether higher wages lead to more hours worked depends on individual circumstances and preferences. C) Yes, unless an exception applies
Step-by-step explanation:
Is Overtime Pay Required with an Agreement to Exceed Hours of Work?
When addressing whether overtime pay is required if there is a written or electronic agreement to exceed hours of work, the correct answer is: C) Yes, unless an exception applies.
Labour laws typically dictate that employees should receive overtime pay when they work more than the standard workweek hours. However, there are exemptions based on specific job categories, industries, or agreements such as collective bargaining agreements. It is important to note that these exceptions vary by jurisdiction. Overtime laws are designed to protect workers from being exploited and to compensate them fairly for the additional hours they work.
In the context of whether a higher wage will encourage significantly more hours worked for all individuals, the response isn't straightforward. While economic theory suggests that higher wages can lead to increased labor supply, individual responses can vary based on a variety of factors, such as income effect, substitution effect, personal preferences, financial needs, and non-monetary aspects of jobs.