When a firm links its employees' compensation to the performance of the firm, the firm is using
A) an incentive system.
B) a command system.
C) a cooperative system.
D) an agency system.
A
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The quantity theory of money assumes that
A) the velocity of money is constant. B) the velocity of money is negative. C) the velocity of money fluctuates unpredictably. D) the velocity of money is zero.
Countries of the world differ in terms of their
A) geographic size. B) population size. C) standards of living. D) All of the above.
The Bretton Woods agreements in 1944
A. established the International Monetary Fund. B. sanctioned world trade on the gold-exchange system. C. allowed nations to devalue their currencies under certain conditions. D. All of the above are correct.
Detrimental externalities like pollution are a shortcoming of the market mechanism. Do they occur in free market economies alone? Explain with examples