Piece rates typically
A. are associated with the worker incurring less risk concerning one's income.
B. are more common among lower paying jobs.
C. do not reward skill.
D. are more common than time rates.
E. encourage greater effort from workers.
Answer: E
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An assumption used in the quantity theory of money is that
A. nominal Gross Domestic Product (GDP) is constant. B. the money supply is constant. C. the price level is constant. D. velocity is constant.
The present value of a stream of future revenues varies ________ with the future revenues and ________ with the interest rate
A) inversely; inversely B) directly; directly C) inversely; directly D) directly; inversely
In recent decades, the United States
A) was essentially a closed economy. B) was generally a net borrower of foreign funds. C) was generally a net lender abroad. D) experienced a net outflow of savings.
Compared to the perfectly competitive firm, the monopolist's input demand curve is
A) more elastic. B) more inelastic. C) due to a constant per-unit price of the product. D) marginal factor cost.