The text quotes W. Edwards Deming as saying that "pay is not a motivator." The history of incentive pay plans shows that:
A. there is a mixed record in success of incentive pay plans.
B. they rarely work.
C. incentives work in every instance.
D. incentives must be non-monetary to work.
Answer: A
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Graphically express a direct and an inverse or negative relationship. What could cause a shift in a line or curve expressing a relationship between two variables?
Steak is a normal good. If the price of steak increases,
a. the income effect on the demand for steak will reinforce the substitution effect b. the income effect on the supply of steak will, to some extent, offset the substitution effect c. the budget line will rotate outward d. consumers' purchasing power will increase e. the budget line will shift outward
Refer to Table 10.2. The marginal product of the fifth unit of labor is:
A. 50. B. 40. C. 30. D. 20.
If the Citrus Growers Association grows $1 million worth of oranges, sells $500,000 worth of oranges to consumers, uses the rest to make orange juice that is sold to consumers for $3 million, Citrus Grower's contribution to GDP is:
A. $1,000,000. B. $500,000. C. $3,500,000. D. $4,000,000.