Piece rates are used when:
a. an individual's output is independent of others and can be easily measured.
b. the job involves team production.
c. an individual's output can be affected by random events.
d. monitoring is difficult.
A
You might also like to view...
The stored value of money over time should not change significantly as long as the level of inflation is
A) low. B) less than your pay increases. C) high. D) adjusted by the government.
If the marginal propensity to consume (MPC) is 0.8, the spending multiplier will be
A) 0.2. B) 1.25. C) 4.0. D) 5.0.
If you invest $1,000 in a savings account and the annual interest rate is 3.6 percent, your account balance will double in value in approximately _____.
A) 185 years B) 72 years C) 34 years D) 20 years E) 3.4 years
In which of the following market structures can you find differentiated products?
A. monopoly B. perfect competition C. oligopoly D. monopolistic competition and oligopoly