If Previously Unemployed Factors of Production Are Utilized, _____

question 73

Multiple Choice

If previously unemployed factors of production are utilized, _____.

• A) the economy moves along the production possibility frontier
• B) the production possibility frontier shifts outward to the extent of the output that is
• C) the production possibility frontier is not affected
• D) the economy will move from a point below the production possibility frontier to a point on

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Definitions:

Goal-Sharing Plans

Incentive plans that reward employees for reaching specific organizational goals, similar to gain-sharing but often broader in scope.

Gain Sharing

A performance-based compensation strategy that rewards employees for contributing to their company's success through increased efficiency or profitability.

Historical Benchmark

A reference point derived from historical data against which current performance or achievements can be measured or compared.

Gain-Sharing Plan

A performance-driven compensation strategy where employees receive bonuses based on the company's savings or gains from improved productivity.