In 1970, Spencer Silver Was Trying to Formulate a Strong

question 262

Multiple Choice

In 1970, Spencer Silver was trying to formulate a strong adhesive for the 3M Company, and one of his failed attempts resulted in an extremely weak adhesive. Four years later, frustrated by how often his markers fell out of his church hymnal, Arthur Fry coated them with Silver's adhesive. The markers stayed in place but could be peeled out of the book without damaging the pages. Post-it Notes are now one of the top five-selling office products in the United States. Fry's novel approach is a good example of

• A)functional fixedness.
• B)divergent thinking.
• C)the confirmation bias.
• D)the availability heuristic.
• E)a mental set.

Understand the difference between a living wage and the minimum wage.

Comprehend the concepts of pay structures, pay grades, and how jobs are grouped and evaluated for compensation purposes.

Recognize methods to solve pay scale overlaps and the rationale behind pay range adjustments.

Identify the critical steps and validity criteria in developing a job evaluation system.

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Definitions:

U.S. Dollars

The official currency of the United States, used as a standard monetary unit.

Foreign Exchange Rate

The worth of one currency in relation to another for conversion purposes, establishing the rate at which one currency can be exchanged for another.

Currency Transaction

A financial transaction that involves the exchange of one currency for another, either at a bank, exchange bureau, or as part of a larger financial transaction.

Historical Exchange Rate

The rate at which one currency was exchanged for another in the past, used for comparison or accounting purposes.