Exam 14: Attracting and Retaining Qualified Employees

In Mexico,many garment or tailoring shops found they could entice many young people to work for them if they offered clean,air-conditioned work areas with high-quality locker rooms to clean up in after the work day.Typically,traditional garment shops had to offer ______ to get workers to apply for the hard,repetitive,and somewhat dangerous work.

There are several assumptions that are the basis of the operation of the benchmark competitive labor market.Which of the following is not one of these assumptions?

When a firm focuses on hiring only for entry-level jobs and tends to promote from within the firm,then the firm is said to:

Self-selection:

The typical salary-fringe benefit mix for full-time workers in the U.S.businesses is:

What are efficiency wages and why are they important in internal labor markets?

We know that a firm is paying way below the market wage rate if:

In the basic competitive model of labor markets,we see that:

Draw a graph showing the trade-off between salary and benefits.Show an employee's indifference and a firm's isocost curve.Label the equilibrium salary/benefits combination.Discuss what would happen as individual taxes fall or as firm payroll taxes rise.

What are internal labor markets and what is an important characteristic of these markets?

Human capital is a term that characterizes:

If a prospective employee is not offered his/her reservation utility or reservation wage,then he/she will:

The extra wage that is paid to an individual to attract him/her to a less desirable job is called:

The gains from general training in human capital tend to go to the:

Always Round Tire tries to base its promotions on seniority (where education and training requirements are not necessary).The company finds that this system seems to work most of the time with shop-floor supervisors and team managers.However,the system breaks down for higher-level positions.Why?

Which of the following is not a lower-cost benefit of an internal labor market?

When rates of pay and job assignments are determined by administrative rules and implicit promises of management,then a firm is operating in a(n):

The Occupational Safety and Health Administration (OSHA)attempts to stop safety violations in business through inspections and fines.Though workers are supposed to earn a premium wage for working in more risky environment,the OSHA inspections may be a good idea because

Large company-paid employee benefits packages can alter behavior and result in:

For a given compensation potential (isocost curve),an employee with a large family is more likely to pick a wage-benefit mix that emphasizes: