Ford Motor Company was one of the first major companies to adopt a wage structure that is comparable to efficiency wages. What was the outcome of Ford’s experiment with efficiency wages? A) Lower labor force turnover B) Higher labor productivity C) Less absenteeism D) all of the above ANSWER D
Date: September 9th, 2020
The American Federation of Labor was founded on the principles of racial and worker solidarity. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
White-collar jobs guarantee financial security. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Over the long term, the ultimate determinant of the price of a depletable resource is the A) extraction cost. B) user cost. C) demand. D) availability of substitutes. E) cost of finding new reserves. ANSWER B
Date: September 9th, 2020
Refer to Scenario 10.9. What level of output maximizes the sum of consumer surplus and producer surplus? A) 0 B) 30 C) 45 D) 60 E) none of the above ANSWER C
Date: September 9th, 2020
Suppose a start-up company can operate from a traditional office space or from a virtual office in which there is no physical office location and the employees collaborate over internet connections from their individual homes. Shirking is more difficult to monitor under the virtual office plan. How would the efficiency wage and level of employment […]
Date: September 9th, 2020
Your firm needs a private investigator and the best private eye in Santa Teresa is Kinsey Milhone. Her services are worth $30,000 to your firm but you do not want to pay her more than $10,000. You tell Kinsey that you cannot pay her more than $10,000 unless you get prior approval from the Board […]
Date: September 9th, 2020
To understand why wages are so low and the process by which wages are determined, we must focus on the supply side of the labor market. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
You are the owner of a rare bottle of wine valued at $332. There are no costs associated with storing or selling the wine. Next year you expect the wine to increase in value to $350. If the interest rate is 10 percent A) you should sell the wine today. B) you should keep the […]
Date: September 9th, 2020
Refer to Scenario 10.8. Suppose that the regulatory agency sets your price where average revenue equals average cost. How much profit will Adriana make? A) She will lose money and will go out of business. B) She will break even. C) She will make a profit. D) none of the above ANSWER B
Date: September 9th, 2020
