Salary Smoothing, Automatic Payroll Deductions, and Early Withdrawal Penalties Are

question 123

Multiple Choice

Salary smoothing, automatic payroll deductions, and early withdrawal penalties are all examples of

• A)mechanisms imposed by companies to extract more from their workers and customers.
• B)policies that do not fundamentally alter decisions because they do not change the benefits or costs of an action.
• C)precommitments.
• D)hardwired heuristics.

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Definitions:

R&D

Short for Research and Development, it refers to the activities undertaken by companies or governments in the innovation and improvement of products and technologies.

Oligopolists

Firms or entities that are part of an oligopoly, a market structure characterized by a small number of large firms that have significant control over market prices and competition.

Patent

A legal document granted by the government giving an inventor exclusive rights to make, use, or sell an invention for a specified number of years.

Imitation

The act of copying or mimicking the products, services, or processes of competitors, often seen as a strategy to gain market share without incurring development costs.