The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. evaluating the identified performance measures
b. avoiding rewards for outcomes that are not included in the performance measures
c. demonstrating that evaluators can be influenced with small favors
d. identifying the relevant measures on which to evaluate employees
c
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Marginal utility is the total amount of satisfaction one receives from the consumption of a certain quantity of a good
a. True b. False Indicate whether the statement is true or false
The Consumer Price Index (CPI) is a
A. statistical measure of average prices using annually updated weights based on surveys of consumer spending. B. price index measuring the changes in prices of all new goods and services produced in the economy. C. statistical measure of a weighted average of prices of a specific set of goods and services purchased by consumers in urban areas. D. statistical measure of a weighted average of prices of commodities that firms produce and sell.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Money spent on the purchase of a new house is included in the GDP as a part of:
A. Household expenditures on durable goods B. Personal consumption expenditures C. Personal saving D. Gross domestic private investment