Question 1

The wage level below which an employee declines a job offer is known as a:

Accepted Answer

A) living wage level 
B) competitive wage level 
C) reservation wage level 
D) prevailing wage level 
E) market wage level 
A) living wage level 
B) competitive wage level 
C) reservation wage level 
D) prevailing wage level 
E) market wage level

Question 2

What is the prediction of efficiency wage theory?

Accepted Answer

The prediction of efficiency wage theory

Question 3

Geographic barriers to mobility between jobs do not affect the supply of labour.

Accepted Answer

A) True 
 B)False

Question 4

What is marginal product of labour?

Accepted Answer

The marginal product of labour

Question 5

Which of the following is a prediction of human capital theory?

Accepted Answer

A) Pay policies signal the kinds of behaviour an employer seeks from employees. 
B) Higher wages improve efficiency by attracting workers who will perform better. 
C) The value of an individual's skills and abilities is a function of the time and expense required to acquire them. 
D) Jobs with negative characteristics require higher pay to attract workers. 
E) Job seekers will not accept jobs when pay is below a certain wage. 
A) Pay policies signal the kinds of behaviour an employer seeks from employees. 
B) Higher wages improve efficiency by attracting workers who will perform better. 
C) The value of an individual's skills and abilities is a function of the time and expense required to acquire them. 
D) Jobs with negative characteristics require higher pay to attract workers. 
E) Job seekers will not accept jobs when pay is below a certain wage.

Question 6

The additional output associated with the employment of one additional human resources unit, with other production factors held constant, is known as the:

Accepted Answer

A) future price 
B) marginal cost of labour 
C) marginal review of labour 
D) marginal product of labour 
E) net profit margin 
A) future price 
B) marginal cost of labour 
C) marginal review of labour 
D) marginal product of labour 
E) net profit margin

Question 7

Employers who use no-mix strategy compete by producing goods and services with the highest total compensation possible.

Accepted Answer

A) True 
 B)False

Question 8

The average of the array of rates paid by an employer- i.e., the sum of base, bonuses, benefits, and options-is referred to as:

Accepted Answer

A) executive pay 
B) pay forms 
C) variance 
D) pay matrix 
E) pay level 
A) executive pay 
B) pay forms 
C) variance 
D) pay matrix 
E) pay level

Question 9

The additional income generated when a firm employs one additional unit of human resources, with other production factors held constant is known as the marginal ________.

Accepted Answer

A) revenue of labour 
B) cost of labour 
C) input 
D) net income 
E) labour expenditure 
A) revenue of labour 
B) cost of labour 
C) input 
D) net income 
E) labour expenditure

Question 10

Pay forms refer to the pay relationships among organizations.

Accepted Answer

A) True 
 B)False

The wage level below which an employee declines a job offer is known as a:

What is the prediction of efficiency wage theory?

Geographic barriers to mobility between jobs do not affect the supply of labour.

What is marginal product of labour?

Which of the following is a prediction of human capital theory?

The additional output associated with the employment of one additional human resources unit, with other production factors held constant, is known as the:

Employers who use no-mix strategy compete by producing goods and services with the highest total compensation possible.

The average of the array of rates paid by an employer- i.e., the sum of base, bonuses, benefits, and options-is referred to as:

The additional income generated when a firm employs one additional unit of human resources, with other production factors held constant is known as the marginal ________.

Pay forms refer to the pay relationships among organizations.

The Pay Model

Strategy: the Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Pay Structures

Designing Pay Levels, Pay Mix, and Pay Structures

Employee Benefits

Pay for Performance: Performance Appraisal and Plan Design

Pay-For-Performance Plans

The Role of Governments and Unions in Compensation

Compensation Budgets and Administration

Filters

Exam 7: Defining Competitiveness

The wage level below which an employee declines a job offer is known as a:

What is the prediction of efficiency wage theory?

Geographic barriers to mobility between jobs do not affect the supply of labour.

What is marginal product of labour?

Which of the following is a prediction of human capital theory?

The additional output associated with the employment of one additional human resources unit, with other production factors held constant, is known as the:

Employers who use no-mix strategy compete by producing goods and services with the highest total compensation possible.

The average of the array of rates paid by an employer- i.e., the sum of base, bonuses, benefits, and options-is referred to as:

The additional income generated when a firm employs one additional unit of human resources, with other production factors held constant is known as the marginal ________.

Pay forms refer to the pay relationships among organizations.

The Pay Model

Strategy: the Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Pay Structures

Designing Pay Levels, Pay Mix, and Pay Structures

Employee Benefits

Pay for Performance: Performance Appraisal and Plan Design

Pay-For-Performance Plans

The Role of Governments and Unions in Compensation

Compensation Budgets and Administration

Filters