Most financial decisions involve two related elements:
a. advice and consent.
b. investment and taxes.
c. time and risk.
d. saving and consumption.
c
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Refer to the above figure. Suppose there are L4 workers in the union. If the union wants to set a wage rate of W3, it must
A) determine which of its members will earn W3 and which will earn W1. B) accept that L4 - L2 members will not be able to find work in the industry. C) accept that L3 - L2 workers will have to get a lower wage equal to W2 and L4 - L3 workers will have to get a wage of W1. D) determine the most efficient way to get the firms to accept the wage and hire all L4 workers.
The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. evaluating the identified performance measures b. avoiding rewards for outcomes that are not included in the performance measures c. demonstrating that evaluators can be influenced with small favors d. identifying the relevant measures on which to evaluate employees