Which of the Following Steps Required by the Point System

question 56

Multiple Choice

Which of the following steps required by the point system of job evaluation involves breaking factors down into subcomponents?

• A) determining compensable factors
• B) determining levels of factors
• C) developing the point manual
• D) allocating points to sub factors
• E) allocating points to levels

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Definitions:

Economy Output

The total value of all goods and services produced by an economy over a specific time period, also known as gross domestic product (GDP).

Equation of Exchange

The Equation of Exchange is an economic identity that relates the supply of money in an economy to the value of goods and services transactions, commonly represented as MV = PQ.

Modern Monetarists

Economists who follow the beliefs of monetarism that emphasize the role of governments in controlling the amount of money in circulation to influence the economy.

Velocity V

The rate at which money circulates in an economy, typically measured as the ratio of nominal GDP to the money supply.