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. rewarding workers who for meet performance measures
d. displaying the wealth disparities between the executives and the line workers
d
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In 1860 government revenues exceeded the earnings of cotton exports by fourfold
Indicate whether the statement is true or false
In what geographic areas would a market-oriented system that remains closer to the command economy end of the spectrum most likely be found?
a. parts of Asia, Africa, and South America b. Cuba and North Korea c. Europe and the United States d. China and Russia
Suppose consumers save 5 percent of their incomes. If the government collects 100 dollars in taxes from each taxpayer, private saving will ________ per taxpayer.
A. increase by $105 B. decrease by $95 C. decrease by $5 D. decrease by 95 cents
In your intermediate macroeconomics course, government expenditures and the money supply were treated as exogenous, in the sense that the variables could be changed to conduct economic policy to influence target variables,
but that these variables would not react to changes in the economy as a result of some fixed rule. The St. Louis Model, proposed by two researchers at the Federal Reserve in St. Louis, used this idea to test whether monetary policy or fiscal policy was more effective in influencing output behavior. Although there were various versions of this model, the basic specification was of the following type: ?ln(Yt) = ?0 + ?1?ln mt + ... + ?p?ln mt-p-1 + ?p+1?ln Gt + ... + ?p+q?ln Gt-q-1 + ut Assuming that money supply and government expenditures are exogenous, how would you estimate dynamic causal effects? Why do you think this type of model is no longer used by most to calculate fiscal and monetary multipliers? What will be an ideal response?