CH 8 TB

Which of the following is true of the Employment Cost Index? A) It is one of three types of salary surveys published regularly by the Department of Commerce. B) It measures the rate of change in prices for goods and services in the product market, not wage changes in labor markets. C) It measu res monthly changes in employer costs for compensation. D) It allows a firm to compare changes in its average costs to an all - industry or specific - industry average.

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The final major decision in setting externally competitive pay and designing the corresponding pay structures is to A ) interpret survey results and construct the market line. B) construct a pay policy line that reflects external pay policy. C) design grades and ranges or bands. D) select relevant market competitors.

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The first major decision in setting externally competitive pay and designing the corresponding pay structures is to A) specify the employer's competitive pay policy. B) conduct a job evaluation. C) select relevant market competitors. D) construct a pay policy line that reflects external pay policy.

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The second major decision in setting externally competitive pay and designing the corresponding pay structures is to A) specify relevant markets. B) define the purpose of the survey. C) specify the pay-level policy. D) design grades and ranges.

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