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Which of the following statements is true about the Consumer Price Index (CPI) ?


A) The CPI helps organizations in the product markets decide an upper limit on the pay it will offer.
B) Following and studying changes in the CPI helps employers prepare for changes in the demands of the labor market.
C) The CPI helps organizations lure top-quality employees.
D) The CPI helps control labor market's demand for pay increases.
E) The CPI helps organizations to compete with companies in other industries that hire similar employees.

F) A) and E)
G) All of the above

Correct Answer

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Quasio Inc.,a business consulting company,considers the cost of living of an employee while deciding the average pay.In this case,which of the following measures helps the company prepare for changes in the demands of the labor market?


A) Consumer Price Index
B) Wholesale Price Index
C) Producer Price Index
D) Retail Price Index
E) Customer Interest Index

F) B) and E)
G) All of the above

Correct Answer

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When job structure conflicts with market data,organizations should base their pay only on market forces because this approach does not have any practical drawbacks.

A) True
B) False

Correct Answer

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Triano Brothers,an insurance firm,follows an administrative procedure for measuring the relative worth of its jobs.The organization does this by assembling and training a committee consisting of people familiar with the jobs.The committee includes a human resource specialist and,if the budget permits,an outside consultant is hired.Which of the following is exemplified in this scenario?


A) Job rotation
B) Job evaluation
C) Merit pay system
D) Job enrichment
E) Work structure

F) All of the above
G) A) and B)

Correct Answer

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_____ holds that the most profitable pay level,all things being equal,would be at the market rate.


A) Equity theory
B) Economic theory
C) Justice theory
D) Wage theory
E) Market theory

F) A) and C)
G) C) and D)

Correct Answer

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Which of the following provisions is included in the Fair Labor Standards Act (FLSA) ?


A) Personal finance
B) Minimum wage
C) Wage discrimination
D) Environmental hazards
E) Retirement plans

F) A) and E)
G) C) and D)

Correct Answer

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The comparable-worth policy:


A) advocates remedies for any undervaluation of jobs based on market-pay data.
B) is designed to reduce the wage gap between women and minority groups exclusively.
C) has been consistently upheld in court rulings.
D) uses job evaluation of an organization's jobs in terms of such criteria as their difficulty.
E) is the only non-controversial pay policy.

F) A) and B)
G) A) and C)

Correct Answer

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Which of the following is a disadvantage of broad bands?


A) They reduce managers' flexibility in making assignments.
B) They always result in pay decreases.
C) They increase the number of levels in the organization's job structure.
D) They reduce the opportunities for promoting employees.
E) They discourage employees from gaining valuable experience through lateral career moves.

F) None of the above
G) A) and C)

Correct Answer

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Pay level is the total amount an employee pays to the organization.

A) True
B) False

Correct Answer

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Under the Davis-Bacon Act of 1931 and the Walsh-Healy Public Contracts Act of 1936,employees of federal contractors must receive rates less than the prevailing wages in the area.

A) True
B) False

Correct Answer

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The Davis-Bacon Act of 1931:


A) requires that a lower "training wage" be paid to workers under the age of 20 for a period of up to 90 days.
B) mandates that employers pay higher wages for overtime, defined as hours worked beyond 40 hours per week.
C) requires general contractors performing services on prime contracts in excess of $2,500 to pay service employees in various classes no less than the wage rates found prevailing in the locality.
D) covers all government contractors receiving $10,000 or more in federal funds.
E) covers construction contractors that receive more than $2,000 in federal money.

F) A) and E)
G) B) and D)

Correct Answer

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Implementing broad bands increases the opportunities for promoting employees.

A) True
B) False

Correct Answer

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An organization's job structure and pay levels:


A) reflect the organization's knowledge about inflationary pressures.
B) reflect the decisions about how much to pay each employee.
C) provide the total amount an organization pays for a particular job.
D) are annual earnings of key employees in the organization.
E) are policies of the organization.

F) A) and E)
G) A) and D)

Correct Answer

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Which of the following statements is true of compensable factors?


A) They are generally statistically derived.
B) They are the characteristics of a job that a firm values and chooses to pay for.
C) They refer to the factors that are important for setting the two-tier wage system.
D) They describe all aspects of the jobs being evaluated.
E) They are used to ensure equity among employees.

F) All of the above
G) A) and E)

Correct Answer

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Which of the following is an adjustment to a pay rate to reflect differences in working conditions or labor markets?


A) Bonus
B) Pay differential
C) Green-circle rate
D) Rank-and-file adjustment
E) Red-circle rate

F) B) and C)
G) A) and C)

Correct Answer

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According to _____,people measure outcomes such as pay in terms of their inputs.


A) expectancy theory
B) equity theory
C) retributive justice theory
D) progressive justice theory
E) economic theory

F) A) and B)
G) B) and E)

Correct Answer

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Blyrie Pharma is a pharmaceutical company based in Alabama.Blyrie Pharma expects its employees to work long hours and achieve increased production rates.Employees earn one and a half times the usual hourly rate for working more than 40 hours in one week.Which of the following laws is Blyrie Pharma abiding by in this scenario?


A) Laws governing equal employment opportunity
B) Fair Labor Standards Act (FLSA) of minimum wage
C) Fair Labor Standards Act (FLSA) of overtime
D) Laws governing prevailing wages
E) Product market laws

F) D) and E)
G) A) and C)

Correct Answer

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Executive pay has drawn public scrutiny in recent years.Which of the following statements best explains the reason?


A) Top executives' pay is much higher than average workers' pay.
B) Most of the top executives' pay is in the form of a salary.
C) Top executives come under the category of exempt employees.
D) Top executives are paid in the form of commissions.
E) Executives are denied short-term or long-term incentives with their pay.

F) C) and D)
G) A) and D)

Correct Answer

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In a product market,different organizations have exclusive customer bases.

A) True
B) False

Correct Answer

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Define job structure,pay level,and pay structure.

Correct Answer

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Job structure consists of the relative p...

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