To qualify as incentive pay, a performance-based compensation program:
A. must use monetary rewards.
B. may use either monetary or non-monetary rewards.
C. must use only non-monetary rewards.
D. may only use piece rates and commissions.
Answer: B
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Assume the market is in equilibrium in the graph shown at demand D and supply S2 (at a quantity of 6). If the supply curve shifts to S1, and a new equilibrium is reached (at a quantity of 4), which of the following is true?
A. Total surplus would increase by $7.50.
B. Total surplus would decrease by $16.50.
C. Total surplus would increase by $32.
D. Total surplus would decrease by $14.00.
Those who generally have low willingness to take on risk are said to be:
A. risk-seekers. B. risk-averse. C. low-risk players. D. high-compensation players.
Lin is maximizing total utility while consuming food and clothing. Her marginal utilities of food and clothing are 50 utils and 25 utils, respectively. If clothing is priced at $10 per unit, the price of a unit of food
a. must be rising b. must be falling c. must equal $10 as well d. must equal $20 e. cannot be determined without additional information.
"Crowding in" refers to federal government deficits:
a. which reduce future rates of economic growth. b. used for public infrastructure will offset any decline in business investment. c. All of the answers are correct. d. which reduce private business and consumption spending.