A potential problem with piece-rate plans is that:
A. workers have no incentive to work hard.
B. workers will produce a large quantity.
C. workers may stress quantity instead of quality.
D. it is difficult for managers to control.
Answer: C
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In an attempt to forecast enrollment, a major university hired an economist to give a "head count." One variable which she would probably emphasize more than any other in trying to forecast this is
a. how interested people are in attending college. b. the employment opportunities that college opens up. c. survey results on public interest in education. d. her instinct about what the public wants. e. tuition (the price of attending).
Studies of discrimination in baseball suggest that black players
a. suffered from discriminatory wage differentials several decades ago and those wage differentials persist today. b. suffered from discriminatory wage differentials several decades ago but those wage differentials have been eliminated. c. did not suffer from discriminatory wage differentials several decades ago but in recent years wage differentials have become evident. d. did not suffer from discriminatory wage differentials in the past and they do not suffer from wage differentials today.
Which of the following statements is false?
A) Government can remove individuals from a prisoner's dilemma setting and make both participants better off. B) Government can define and enforce the property rights that individuals actually want defined and enforced. C) Individuals in a prisoner's dilemma setting may want to get out of the prisoner's dilemma setting. D) none of the above
Which of the following would be studied by macroeconomists?
A. Inflation in developing countries B. The effect of government subsidies on sugar prices C. The effect of rent controls on housing prices in New York City D. The impact of the minimum wage on families below the poverty level