Which of the following forms of payment is NOT an incentive plan?
A. Flat salary for a plant manager
B. Bonuses for managers that increase as profits increase
C. Commission plans for salesmen
D. None of the statements is correct.
Answer: A
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Complete crowding out occurs when
A) monetary policy has no effect on income. B) fiscal policy has no effect on income. C) monetary policy has no effect on interest rates. D) fiscal policy has no effect on interest rates.
Economists assume that business firms have many goals, and profit maximization is just one of them
a. True b. False Indicate whether the statement is true or false
Which of the following would eliminate scarcity as an economic problem?
a. Resumption of the steady productivity growth. b. Discovery of sufficiently large new energy reserves. c. Moderation of people's competitive instincts. d. None of these choices.
If two consumption bundles lie on the same indifference curve, then:
A. the consumer prefers the bundle that is farthest from the origin. B. the consumer does not prefer one bundle over the other. C. the consumer prefers the bundle that is farthest to the right on the indifference curve. D. the consumer prefers the bundle that is farthest to the left on the indifference curve.