Question 1

The pay policy that is most closely associated with the decreased ability to attract employees is a(n)_____ policy.

Accepted Answer

A)  lead 
B)  match 
C)  lag 
D)  employer of choice 
A)  lead 
B)  match 
C)  lag 
D)  employer of choice

Question 2

Wages in labor-intensive industries are generally higher than in technology-intensive industries.

Accepted Answer

A) True 
 B)False

Question 3

Employers continue to hire until the marginal revenue of the last hire equals his or her wage rate.This is based on the first labor market theory assumption that:

Accepted Answer

A)  markets are competitive. 
B)  pay rates reflect all costs of employment. 
C)  employers seek to maximize profits. 
D)  workers are homogeneous and interchangeable. 
A)  markets are competitive. 
B)  pay rates reflect all costs of employment. 
C)  employers seek to maximize profits. 
D)  workers are homogeneous and interchangeable.

Question 4

Graduating students usually find themselves in a quoted-labor market.

Accepted Answer

A) True 
 B)False

Question 5

A study of graduating college students found they sought jobs with all of the following pay characteristics EXCEPT _____.

Accepted Answer

A)  individual-based pay 
B)  variable pay 
C)  flexible benefits 
D)  job-based pay 
A)  individual-based pay 
B)  variable pay 
C)  flexible benefits 
D)  job-based pay

Question 6

The market pay rate is the:

Accepted Answer

A)  minimum wage rate set by the Department of Labor. 
B)  pay rate at which applicants will deny a job offer. 
C)  difference between use value and surplus value. 
D)  point at which supply and demand lines cross. 
A)  minimum wage rate set by the Department of Labor. 
B)  pay rate at which applicants will deny a job offer. 
C)  difference between use value and surplus value. 
D)  point at which supply and demand lines cross.

Question 7

According to efficiency-wage theory,how do increased wages increase efficiency and lower labor costs?

Accepted Answer

According to efficiency-wage theory,high

Question 8

Employers in highly competitive markets are more able to raise prices without loss of revenues.

Accepted Answer

A) True 
 B)False

Question 9

_____ refers to the average of the array of rates inside an organization.

Accepted Answer

A)  Revenue margin 
B)  Remuneration 
C)  Compensation 
D)  Pay level 
A)  Revenue margin 
B)  Remuneration 
C)  Compensation 
D)  Pay level

Question 10

The assumption of the upward sloping supply curve that offers of higher pay will increase supply will most likely NOT hold when _____.

Accepted Answer

A)  absenteeism is high 
B)  turnover is low 
C)  unemployment is low 
D)  unemployment is high 
A)  absenteeism is high 
B)  turnover is low 
C)  unemployment is low 
D)  unemployment is high

Question 11

Which of the following is an example of a quoted-price market?

Accepted Answer

A)  Streetcash,a website that allows buyers to negotiate product prices with the sellers 
B)  Vidwom,a website that allows buyers to bid for items sold by other users 
C)  Gramspot,a website where cars are auctioned by sellers for charity 
D)  Nile,a website that allows sellers to sell their products for a fixed price 
A)  Streetcash,a website that allows buyers to negotiate product prices with the sellers 
B)  Vidwom,a website that allows buyers to bid for items sold by other users 
C)  Gramspot,a website where cars are auctioned by sellers for charity 
D)  Nile,a website that allows sellers to sell their products for a fixed price

Question 12

_____ is an example of a bourse.

Accepted Answer

A)  The stated starting wage of a job in an ad 
B)  The total compensation for a top athlete 
C)  The price of a product on Amazon 
D)  The price of a box of cereal at a grocery store 
A)  The stated starting wage of a job in an ad 
B)  The total compensation for a top athlete 
C)  The price of a product on Amazon 
D)  The price of a box of cereal at a grocery store

Question 13

Segmenting sources of labor is a means of reducing labor costs.

Accepted Answer

A) True 
 B)False

Question 14

What are the basic assumptions of labor market theories?

Accepted Answer

Theories of labor markets usually begin

The pay policy that is most closely associated with the decreased ability to attract employees is a(n)_____ policy.

Wages in labor-intensive industries are generally higher than in technology-intensive industries.

Employers continue to hire until the marginal revenue of the last hire equals his or her wage rate.This is based on the first labor market theory assumption that:

Graduating students usually find themselves in a quoted-labor market.

A study of graduating college students found they sought jobs with all of the following pay characteristics EXCEPT _____.

The market pay rate is the:

According to efficiency-wage theory,how do increased wages increase efficiency and lower labor costs?

Employers in highly competitive markets are more able to raise prices without loss of revenues.

_____ refers to the average of the array of rates inside an organization.

The assumption of the upward sloping supply curve that offers of higher pay will increase supply will most likely NOT hold when _____.

Which of the following is an example of a quoted-price market?

_____ is an example of a bourse.

Segmenting sources of labor is a means of reducing labor costs.

What are the basic assumptions of labor market theories?

The Pay Model

Strategy: The Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Designing Pay Levels, Mix, and Pay

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters

Exam 7: Defining Competitiveness

The pay policy that is most closely associated with the decreased ability to attract employees is a(n)_____ policy.

Wages in labor-intensive industries are generally higher than in technology-intensive industries.

Employers continue to hire until the marginal revenue of the last hire equals his or her wage rate.This is based on the first labor market theory assumption that:

Graduating students usually find themselves in a quoted-labor market.

A study of graduating college students found they sought jobs with all of the following pay characteristics EXCEPT _____.

The market pay rate is the:

According to efficiency-wage theory,how do increased wages increase efficiency and lower labor costs?

Employers in highly competitive markets are more able to raise prices without loss of revenues.

_____ refers to the average of the array of rates inside an organization.

The assumption of the upward sloping supply curve that offers of higher pay will increase supply will most likely NOT hold when _____.

Which of the following is an example of a quoted-price market?

_____ is an example of a bourse.

Segmenting sources of labor is a means of reducing labor costs.

What are the basic assumptions of labor market theories?

The Pay Model

Strategy: The Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Designing Pay Levels, Mix, and Pay

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters