Some industrial psychologists suggest that, "pay is not a motivator". How do they support the argument and what are the limitations of that argument?
What will be an ideal response?
To support this view, it is pointed out that workers rank the work environment higher than salary. Second, it is difficult to design an efficient incentive compensation plan, since many plans have backfired and produced exactly the wrong kind of results. The problem with this line of reasoning is if money is not a motivator, then it should not produce any results, good or bad. Since bad results are produced when money is a motivator, we have a situation where some clauses can be incorporated into the contract, which have the potential for improving and mitigating the circumstances. Further, these contract designs have been in place for a long time and scientific evidence suggests that they work well when designed properly.
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If a country's working-age population declines and its wealth increases, then the labor supply curve
A) shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. B) shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. C) shifts to the left. D) shifts to the right.
If there is both an increase in the supply of a good and a decrease in demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The equilibrium quantity will decrease. c. The price of the good will decrease. d. The equilibrium quantity will increase.
Refer to Scenario 18.1. It would be acceptable to both parties to have the fishermen pay the factory
A) $0 to install a filter. B) $500 to install a filter. C) $4,000 to install a filter. D) $6,000 to install a filter. E) any amount greater than $4,000 and less than $6,000 to install the filter and make both parties better off.
Assume that the Paris First National Bank currently has deposits of $20 million. If the current required reserve ratio is raised from 20 percent to 40 percent, then:
A. Paris First National Bank must increase its required reserves from $4 million to $8 million. B. required reserves will decrease from $16 million to $12 million. C. excess reserves will automatically increase by $20 million. D. Paris First National Bank must close out 4 million in loans.