One of the benefits of the Hay System is that it can be used to
A. assign a task to each employee on the basis of seniority.
B. determine the level of compensating wage differentials in risky jobs.
C. determine the optimal mix of salary and fringe benefits.
D. assign a position to each job within a firm's hierarchy.
Answer: D
You might also like to view...
The U.S. economy favors greater government intervention in the market than socialist economy would favor.
Answer the following statement(s) true (T) or false (F)
The World Bank defines ________ poverty as an income of less than $1.90 per day per person.
A. extreme B. severe C. relentless D. extraordinary
Bilateral monopoly exists when
A) a single buyer confronts a single seller. B) there are two monopolistic buyers trying to buy resources. C) two labor unions are trying to represent the same group of workers. D) a firm is both a monopoly in its output market and a monopsonist in its input market.
You explain to your roommate Surya, who makes beaded headbands, about an economic theory which asserts that consumers will purchase more of a product at lower prices than they will at higher prices. She contends that the theory is incorrect because over
the past two years she has lowered the price of her headbands and yet has seen a decrease in sales. How would you respond to Surya? A) Surya is right; she has evidence to back her claim. The theory must be erroneous. B) Surya is making the mistake of assuming that correlation implies causation. C) I will explain to her that she is making the error of reverse causality: it is the decrease in demand that has caused her to lower her prices. D) I will explain to her that there are some omitted variables that have contributed to a decrease in her sales such as changes in income.