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Home » Human Resource » Page 511

Human Resource

Q: There is no single "going rate" in the labor market for a specific job.

Q: External competitiveness is primarily determined by the impact of government regulations on the firm or industry.

Q: Paying above the market is an effective competitive strategy.

Q: Both pay level and pay mix decisions focus on two objectives: (1) control costs and increase revenues and (2) attract and retain employees.

Q: In determining the compensation strategy, a major strategic decision is whether to mirror what competitors are paying.

Q: Pay forms is the same concept as pay mix

Q: Differences in starting salaries for college graduates is mainly due to differences in grades and interview skills.

Q: Graduating students receiving the same degree, in the same field from the same college or university, generally receive very similar pay offers.

Q: Which of the following is not a consequence of level of competitiveness of total compensation?A.Increase probability of union-free statusB.Increase organization profitabilityC.Reduce voluntary turnoverD.Reduce pay-related work stoppages

Q: The pay-mix component in which benefits is likely to be largest is _____.A.work-life balanceB.security or commitmentC.performance drivenD.market watch

Q: Among pay-mix alternatives, base pay is largest in _____.A.work-life balanceB.security or commitmentC.performance drivenD.market match

Q: All of the following are advantages of a lead pay policy except _____.A.reduced vacancy rates B.reduced turnoverC.reduced absenteeismD.higher financial performance

Q: The most common pay policy is _____.A.leadB.lagC.hybridD.match

Q: A pay policy most likely to reduce pay dissatisfaction is _____.A.leadB.employer of choiceC.hybridD.match

Q: The pay policy associated with increased productivity is the _____ policy.A.leadB.matchC.hybridD.employer of choice

Q: In which of the following would data from labor market competitors be given more weight than product market competitors data?A.Labor costs area a large share of total costsB.Employee skills are specific to the product marketC.Product demand is responsive to price changesD.The supply of labor is responsive to changes in pay

Q: All of the following are important factors in defining a market for compensation purposes except:A.skill/knowledge required.B.geography.C.ability to pay.D.product and/or labor market competitors.

Q: Evidence shows that in manufacturing, _____ is positively correlated with hourly wage level.A.retentionB.productivityC.job satisfactionD.total profit

Q: Which of the following is not true of the relationship between employer size and its ability to pay?A.Talented individuals have a higher marginal value in a larger organization.B.Talented people can influence more people and decisions.C.Influence of talented people leads to more profits.D.Talented people prefer to work in larger organizations.

Q: Wages tend to be low in which of the following industries?A.Education and health careB.Technology intensive industriesC.Professional servicesD.Pharmaceuticals

Q: Segmented labor supply involves all of the following except:A.hiring from different sourcesB.paying workers differently who are performing the same workC.hiring from different sources and differential pay and benefits for the same workD.employing regulars, part-timers, and temps

Q: The study referred to in the text on how managers make wage adjustment decisions found:A.level of unemployment had a major effectB.profitability affected the overall pay budgetC.managers believed efficiency wage theoryD.managers believed higher pay makes supervision easier

Q: Which of the following factors do not affect an employer's ability to pay high wages?A.Product demandB.Degree of competitionC.Productivity of laborD.Supply of skilled employees

Q: _____ sets a maximum pay level an employer can pay.A.Government legislationB.The product marketC.The labor marketD.Labor market competitors

Q: The _____ theory is the most influential in explaining pay-level differences.A.human capitalB.marginal productivityC.efficiency wageD.signaling

Q: A study of graduating college students found they sought jobs with all of the following pay characteristics except ___________A. individual-based pay.B. variable pay.C. flexible benefits.D. job-based pay.

Q: If a friend told you they would not accept a job after graduating for less than $50,000 per year, they would be demonstrating the _________ theory.A.human capitalB.reservation wageC.signalingD.efficiency

Q: In _____ theory, pay is described as noncompensatory.A.efficiency wageB.signalingC.reservation wageD.marginal productivity

Q: Implication of the _____ theory is that pay level affects an employer's ability to recruit.A.human capitalB.reservation wageC.signalingD.efficiency

Q: ___________ theory is most useful for explaining variations in pay mix. A.SignalingB.Compensating wage differentialsC.Efficiency wageD.Human capital

Q: __________ theory is the basis for the sorting effect pay strategy has on the composition of a workforce/A.human capitalB.signalingC.marginal productivityD.efficiency wage

Q: Rent sharing is most commonly associated with the _____ theory. A.human capital B.signaling C.marginal productivity D.efficiency wage

Q: All of the following are true regarding efficiency wage theory research except __________A. higher wages is associated with fewer disciplinary layoffs.B. fewer supervisors are required.C.higher wages reduces profits.D. more applicants apply for jobs.

Q: _____ theory is typically associated with greater profits.A.SignalingB.Compensating wage differentialsC.Efficiency wageD.Human capital

Q: Research on efficiency wage theory shows that:A.more unqualified workers applyB.disciplinary layoffs are higherC.more supervision is requiredD.profits are not related

Q: The theory that has the most implications for staffing is _____ theory.A.compensating differentialsB.efficiency wageC.signalingD.marginal productivity

Q: Which theory supports the idea that coal mining should be paid more than office clerical work?A.SignalingB.Marginal productivityC.Efficiency wageD.Compensating differentials

Q: If Company A raises its pay rate one dollar per hour to hire additional workers and competitors immediately match the increase, what is the most likely result?A.Higher labor costs for Company A, but not more workersB.Company A will hire the needed workers at the higher wage rateC.Competitors will lose employees to Company AD.Company A will hire higher quality workers

Q: The assumption of the upward sloping supply curve may not hold when _____.A.wages are lowB.wages are highC.unemployment is lowD. unemployment is high

Q: In a hiring situation, considering that other potential costs will not change in the short run, the level of demand that maximizes profits is that level at which the _____ of the last hire is equal to the _____ for that hire.A.demand factor; supply factorB.marginal output; market priceC.incremental output; marginal outputD.marginal revenue; wage rate

Q: Employers continue to hire until marginal revenue of the last hire equals their wage rate because as per the first labor market theory assumption:A.markets are competitive.B.pay rates reflect all costs of employment.C.employers seek to maximize profits.D.workers are homogeneous and interchangeable.

Q: A small lawn care company has two mowers and four employees. If it hires another employee, how productive will productivity of the fifth employee compare to the current two employees?A.Less productiveB.More productiveC.The sameD.There is not enough information to determine productivity

Q: Output associated with hiring an additional person, holding constant other production factors, is referred to as:A.productivity.B.the marginal product of labor.C.incremental productivity.D.the marginal revenue product of labor.

Q: The market pay rate is the:A.minimum wage rate set by the Department of Labor.B.pay rate at which applicants will accept a job.C.going rate.D.point at which supply and demand lines cross.

Q: Which of the following is an example of the demand side of labor?A.Level of pay applicants will acceptB.Qualifications of applicantsC.Pay level offered by an employerD.Locations of potential employees

Q: All of the following except the _____ shape external competitiveness.A.skill level of employeesB.nature of demandC.industry strategyD.level of product demand

Q: _____ is an example of a bourse.A.The stated starting wage of a job in an adB.The total compensation for a top athleteC.The price of a product on AmazonD.The price of a box of cereal at a grocery store

Q: Which of the following is an example of a quoted-price?A.A product on e-BayB.A product on PricelineC.A used carD.A product on Amazon

Q: If Company A and Company B pay the same total compensation for a job, which of the following is most likely true?A.Base pay is sameB.Benefits costs are the sameC.The pay mix differsD.The pay mix is the same

Q: Which of the following is not a reason a company might pay base wages above market competitors?A.Employees are more productiveB.Turnover will be lowerC.Competitor production costs are lowerD.To attract more job applicants

Q: Pay level decisions have a significant impact on expenses. Other things being equal, the higher the pay level, the higher the:A.margins.B.labor costs.C.return on investments.D.fixed costs.

Q: _____ refers to the average of the array of rates paid by an employer. A.Cost to the company B.Remuneration C.Compensation D.Pay level

Q: Which of the following is not a factor explaining differences in pay offered to graduating college students?A.grades and interview skillsB. location of companyC.type of workD. industry

Q: The mix or forms of pay compared to competitors is a part of _____________A. internal alignmentB. contributionsC.competitivenessD. management

Q: What is relevance of flexibility in skill-based plans?

Q: How do skill-based plans motivate employees?

Q: What are the common certification methods organizations use?

Q: Which are the major skill-analysis decisions?

Q: Does skill-based pay systems reduce the requirement for supervision?

Q: What are the objectives that may be used to assess a skill-based pay plan?

Q: What is the relevance of certification in a multiskill system?

Q: Briefly discuss skill-based plans.

Q: How do modern organizations analyze work processes?

Q: Defining the compensable factors and scales to include the content of jobs held predominantly by women is one of the methods to ensure that job evaluation plans are bias-free.

Q: The text argues validity should be expanded to include impact on pay decisions.

Q: Recent research shows that use of on-line job evaluation by independent managers is more reliable than traditional job evaluation committees.

Q: Which are the two reasons that make competencies a risky foundation for a pay system? A. Number of stakeholders and lack of a global standardB. Openness and non-quantifiable natureC. Vagueness and subjectivityD. Lack of motivation and abstract objectives

Q: One approach to both improving and measuring the level of acceptance of job evaluation is to establish a formal appeals process.

Q: Validity refers to the degree to which the evaluation assesses the relative worth of jobs to the organization.

Q: How are organizations redefining the original definition of competencies?

Q: Reliability of job evaluations can be improved by using evaluators who are neutral third parties or by employing consumer evaluation committees.

Q: Research on person-based pay systems has focused on the reliability and validity of the systems.

Q: In virtually all the studies on job evaluation, job-based evaluation is treated as a measurement device.

Q: Person-based plans often fail to account for whether or not an individual is using a particular skill on a particular day.

Q: Since competencies are based upon each organization's mission statement or strategy, core competencies are unique for each company.

Q: Maturity of judgment and respect for others are examples of organization specific competencies.

Q: Customer orientation is an example of a visionary competency.

Q: In the judgment of the text authors, basing pay on judgments of competencies is not good practice.

Q: Basing pay on race or gender seems appalling today, but basing pay on someone's judgment of another person's integrity is considered the norm nowadays.

Q: Competencies provide guidelines for behavior and keep people focused.

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