Incentives are an important aspect to determine whether multiple tasks should be combined into one job or not. How can monetary incentives help and/or hinder the process of getting a job done, particularly if it is made up of several tasks?
What will be an ideal response?
Monetary rewards tied to the completion of the entire job should help in getting the job done. However, if monetary incentives are aimed only at the tasks that are easier to measure, the employee will be motivated to spend more time or effort on that subset of tasks. Other tasks may be neglected and the job may not be performed effectively.
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An decrease in domestic savings
a. decreases foreign borrowing. b. will improve the trade balance. c. will increase exports. d. will increase foreign borrowing.
Which of the following is NOT correct regarding the theories of income distribution?
A) Dealing with how income ought to be distributed is a normative issue. B) The productivity standard for the distribution of income is stated "to each according to what they produce." C) The egalitarian principle of income distribution is "to each exactly the same." D) Dealing with how income should be distributed is a positive economic issue.
Individuals who face greater risks
a. are more likely to purchase insurance b. are less likely to purchase insurance c. are neither more nor less likely to purchase insurance d. are risk neutral
Parity pricing can be used as a substitute for price floors because it
a. creates the same excess demand b. allows farmers to earn income without producing goods c. determines the value of farm goods using market mechanisms d. has the same effect as a rationing scheme e. is designed to maintain farmers' purchasing power