If performance evaluation of work is used to change wages, raises, bonuses, or dismissals, then the system is designed to:
A. determine rewards and sanctions for the employee.
B. provide the employee with a system of self-assessment.
C. reduce risk-taking on the part of the employee.
D. indicate when training is required.
Answer: A
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Suppose a perfectly competitive industry is in long-run equilibrium. If a decrease in demand leads to a lower long-run price, we know that
A) this is a decreasing-cost industry. B) this is an increasing-cost industry. C) some firms will be losing money in the long run. D) after further adjustments, price will rise to its original level.
If the simple money multiplier is 5, the required reserve ratio must be equal to _____
a. 5 percent b. 0 c. 10 percent d. 50 percent e. 20 percent
Exhibit 21-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 21-4, compared to Brazil, China has a comparative advantage in the production of:
A. coffee. B. tea. C. both coffee and tea. D. neither coffee nor tea.
A temporary decrease in government purchases in the classical model would
A. shift the marginal product of labor curve to the right. B. shift the labor demand curve to the left. C. shift the labor supply curve to the left. D. shift the production function to the left.