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C the potential that pay levels may get so high that

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C. the potential that pay levels may get so high that they will increase a firm's marginal wage cost more than its marginal revenue product. D. an increased likelihood of shirking by workers. AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-6 McConnell - Chapter 13 #168 Topic: Pay and performance
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169. (Consider This) The main idea highlighted in the story about artist Pablo Picasso is: A. derived demand. B. human capital. C. opportunity cost. D. occupational licensure. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-5 McConnell - Chapter 13 #169 Topic: Wage differentials; human capital 170. (Consider This) The story about artist Pablo Picasso illustrates the point that: A. the demand for labor is a derived demand. B. geographical immobility impedes an efficient allocation of labor resources. C. principal-agent problems can occur in unusual settings. D. present skills reflect past accumulations of human capital. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-5 McConnell - Chapter 13 #170 Topic: Wage differentials; human capital 171. (Last Word) Chief executive officers (CEOs) of large American corporations: A. have higher average salaries than CEOs of similar-size firms in other industrial nations. B. have similar salaries, on average, to CEOs of same-size firms in other industrial nations. C. are, on average, older than CEOs of same-size firms in other industrial nations. D. are, on average, younger than CEOs of same-size firms in other industrial nations. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-5 McConnell - Chapter 13 #171 Topic: Wage differentials; human capital 172. (Last Word) In 2005, chief executive officers (CEOs) pay at U.S. firms with around $500 million in annual sales averaged: A. $600 thousand. B. $1.2 million. C. $2.2 million. D. $4.5 million. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-5 McConnell - Chapter 13 #172 Topic: Wage differentials; human capital 173. (Last Word) The dispute over the pay of chief executive officers (CEOs) of U.S. corporations hinges on whether or not such pay: A. should be granted for past performance or for current performance. B. is determined in a competitive labor market or in a monopsonistic labor market. C. is justified on productivity grounds or mainly reflects an overestimation of CEO importance by corporate boards of directors. D. should contain performance incentives such as stock options, stock shares, or bonuses. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-5 McConnell - Chapter 13 #173 Topic: Wage differentials; human capital 174. Marginal resource (labor) cost will exceed the wage rate when there is imperfect competition in the hire of labor.
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C the potential that pay levels may get so high that they...

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