Compensation

________ is an external competitiveness policy that offers employees substantial options among their pay forms.

shared choice

In the context of types of markets, which of the following statements is true?

Bourse markets allow haggling over terms and conditions until an agreement is reached.

Which of the following labor demand theories states that work with negative characteristics requires higher pay to attract or retain workers?

Compensating differentials

In which of the following conditions would product market competitors' data be given more weight than data from labor market competitors?

Product demand is responsive to price changes.

Which of the following is an example of the demand side of labor?

The pay level offered by an employer

________ is an example of a bourse.

The total compensation for a top athlete

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.

marginal revenue; wage rate

________ refers to the average of the array of rates paid by an employer.

pay level

Evidence shows that in manufacturing, ________ is positively correlated with hourly wage level.

productivity