Managers can get workers to work longer hours by:
A. offering overtime pay.
B. decreasing the hourly wage scale.
C. offering a higher flat wage rate on all hours worked.
D. None of the statements is correct.
Answer: A
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The principal-agent view of Fed motivation predicts that the Fed acts
A) to promote the interests of the general public. B) to promote the interests of the Fed's principal—the President of the United States. C) in order to increase its power, influence, and prestige. D) in order to make sure its agents—commercial banks—carry out its wishes.
In the figure above, assume that output is $10.5 trillion, while potential output is $12 trillion. Suppose that a combination of fiscal stimulus and recovery of consumer and business confidence shifts the IS and AD curves, as shown in the figure
The equilibrium real interest rate is ________ percent. A) 3 B) one C) 2.5 D) 2 E) zero