Multiple Choice
Which of the following conditions have been shown necessary for a ratchet effect to operate in an incentive system?
A) There must be an entrenched minimum standard of performance.
B) A principle encouraging innovation must be implemented.
C) The minimum standard must go up or down with each innovation.
D) All of the above are necessary to the operation of a ratchet effect.
Correct Answer:
Verified
Correct Answer:
Verified
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