This document of BUS 434 Week 1 Quiz shows the solutions to the following problems:
1. All but which one of the following conditions will influence jobs and job-related opportunities in the future?
– rapid economic growth
– vigorous competition
– fewer advancement opportunities
– restricted wage and salary increases
2. Which of the following is a noncompensation benefit rather than a compensation benefit?
– paid holidays
– unemployment insurance
– office Christmas party
– medical insurance
3. An organization designs and implements a reward system to
– provide a medium of exchange of the income of an organization to its employees for their monetary and in-kind claims on goods and services
– promote the comradeship of workplace associates
– focus worker attention on the specific behaviors the organization considers necessary to achieve its desired objectives and goals
– require employees to perform assignments for which they are best suited
4. Claims on goods and services made available and paid for either totally or in some percentage by the employer are
– monetary rewards
– in-kind rewards
– noncompensation rewards
– nonfinancial rewards
5. A company car, a company credit card, and subsidized food services are all examples of which one of the following forms of payment?
– deferred income
– family income
– income equivalent
– incentive income
6. The financial strength to own your own home normally begins with entry into the
– working poor
– lower-middle class
– middle-middle class
– upper-middle class
7. All but which one of the following assumptions are included within the model of perfect competition?
– employers seek to maximize profits
– workers have perfect information about wages and job opportunities
– available workers differ with respect to both skill and performance
– all jobs in the labor market are open to competition
8. Approximately what percentage of workers are unionized?
9. Which one of the following is not considered as part of a compensation program?
– Benefits and services
– Short- and long-term incentives
– Job-related training
– Wage and salary add-ons
10. Which one of the following states has the highest level of personal income?
– New York