Young John recently took a job with the U.S. Department of Agriculture. His supervisor gave him an assignment and a two-week deadline. He finished the job in three days and turned it in. Now his coworkers are mad at John. Why?
Since there is little incentive for internal efficiency, John should have taken the entire two weeks before handing in the report. If the supervisor comes to believe everyone should work faster, this will not serve the best interests of the veteran USDA employees. In fact, asking for extensions, because of the perceived effort tasks take, will likely be the norm in John's new office.
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The labor market is in equilibrium whenever
A) the nominal wage rate is decreasing. B) the nominal wage rate is increasing. C) the nominal wage rate is not changing. D) the real wage rate is increasing. E) the quantity of labor demanded equals the quantity of labor supplied.
A __________ discount rate makes it __________ advantageous to sell securities to obtain additional reserves
A) higher; less B) lower; more C) higher; more D) None of the above.