Expert Answers

1. Which of the following defines valence?

A. The belief that positive outcomes have little impact onemployees performance.

B. The belief that successful performance will result in someoutcomes.

C. An individual's belief that they possess the necessarycapabilities to execute behaviours for task success.

What would the correct option be?

1. Which of the following best explains the difference between amarket economy and a planned economy?

Group of answer choices

Planned economies promote the use of privatization to increasemarket share.

Capitalism is the root of a planned economy.

Market economies are also known as mixed market economies.

In a planned economy, consumers have little choice in where theywork or what they purchase or pay.

In a market economy, consumers must pay what the marketdemands.

2. What type of policy is made up of fiscal and monetarypolicy?

Group of answer choices

Stabilization

Foreign

Employment

Tax

Trade

3. What occurs when the quantity demanded exceeds the quantitysupplied?

Group of answer choices

Surplus

Equilibrium point

Shortage

Supply schedule

Demand deficit

4. What is needed to gain a competitive advantage overcompetitors?

Group of answer choices

The ability to have a unique good or service that cannot beeasily duplicated by competitors

The ability to produce goods and services and sell those at afixed profit

The ability to leverage the internet to sell in a globalmarketplace

The ability to produce goods and services and sell those at ahigh profit

The ability to produce goods or services efficiently and at areasonable profit

1. Which of the following is the evidence of unbalancedsystems:

A. top heavy operations

B. increasing capacities

C. bottleneck operations

D. assembly lines

1. All of the following employers are excluded from the NationalLabor Relations Act except:

A: The U.S. government.

B: Secondary schools operated by the Roman Catholic Church.

C: Public utilities which have at least $250,000 gross annualvolume.

D: State, county and municipal governments.

2. The Taft-Hartley Act:

A: Was signed into law by President Truman.

B: Outlaws secondary boycotts.

C: Does not amend the National Labor Relations Act.

D: Prohibits damage suits for collective bargaining violationsand certain strikes and boycotts.

3. The New York journeymen shoemakers were convicted of criminalconspiracy in 1810 for all of the following reasons except:

A: The Association forbade its members from working withnon-members.

B: The Association bound them to work only for union-adoptedscale.

C: The Association forbade masters to have more than twoapprentices.

D: The Association's efforts were in response to an agreement bythe masters to lower the wage.

4. The Landrum-Griffin Act:

A: Forbids corporations or unions from making contributions orexpenditures in connection with elections for certain federaloffices.

B: Provides for payment of minimum wages by contractors engagedin construction, alteration or repair of public buildings.

C: Mandated that every union member be given an equal right toattend membership meetings and to participate in the voting anddeliberations of such meetings.

D: Prohibits the making of loans by a union to its officials inall situations.

1/ Which of the following is an example of a statute?

a/First Amendment to Constitution

b/negligence

c/occupational health and safety regulations

d/Family and Medical Leave Act

2/ Under U.S. employment laws, employees have the right to__________.

a/ not be fired, as long as they do a good job and theemployer's financial condition does not require that employmentlevels be cut.

b/ be treated fairly in all aspects of the workplace, includingreceiving fair and equal compensation and promotionalopportunities.

c/ have health insurance and other basic benefits, provided thatthey are full time employees.

d/none of the above.

3/ Which of the following statements is true of arbitration?

a/arbitration is always more costly and time consuming thanlitigation.

b/ arbitrators’ decisions are usually advisory and notconsidered final.

c/ arbitrators have less control over the outcomes of disputesthan do mediators.

d/ none of the above.

1/Which of the following provisions, if included in a mandatoryarbitration agreement, would not likely render itunenforceable?

a/ a provision that the employee pay the costs of thearbitrator’s services.

b/ a provision that gives the employer the right to choose anyarbitrator.

c/ a provision that requires the employee to prove his case.

d/ all of the above.

2/ Laws enacted by the legislative branch of state or federalgovernment are referred to as:

a/ regulations.

b/ statutes.

c/ uniform laws.

d/ executive orders.

3/ Generally, the burden of proof that an employee must meet inan employment law case is:

a/ that the employer is responsible for the alleged conductbeyond a reasonable doubt.

b/ that the employer is responsible for the alleged conduct bypreponderance of the evidence.

c/ that the employer is responsible for the alleged conduct byclear and convincing evidence.

d/ none of the above

1. Which of the following markets is characterized by thefollowing: many buyers and sellers, a homogeneous product, easyentry into and exit from the industry, and all firms are pricetakers?

a.oligopoly

b.monopoly

c.monopolistic competition

d.perfectly competitive market

2.

The measure of how well a product meets its requirements orspecifications is called:

a.Quality of design

b.Service quality

c.Quality of conformance

d.Taguchi quality loss function

3.

Assume that an investment of $100,000 produces a net cash flowof $60,000 per year for two years. The discount factor for year 1is 0.89 and for year 2 is 0.80. The NPV is

a.$6,800

b.$0

c.($4,000)

d.$1,400