The Labor Demand Curve

question 28

Multiple Choice

The labor demand curve:

• A) shifts out when wages fall.
• B) shifts in when wages rise.
• C) slopes up because of the law of demand.
• D) slopes down because of the law of demand.

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Definitions:

Loyalty to The Firm

Loyalty to the firm is the dedication and allegiance employees feel and demonstrate towards their employer, characterized by a commitment to the company's success and adherence to its values and goals.

Reward Performance

The practice of recognizing and compensating employees based on their achievements and contributions to organizational goals.

Forced Distribution Method

A performance evaluation system where employees are ranked in accordance with a predetermined distribution curve, such as a bell curve, forcing managers to differentiate between high, medium, and low performers.

Multiperson Comparison

An appraisal method that evaluates and compares the performance of employees against each other to establish rankings.