According to the Work Foundation and Institute for Employment Studies

question 40

Multiple Choice

According to the Work Foundation and Institute for Employment Studies in the United Kingdom, what percentage of investment in human resources will produce an approximate increase of $2300 of profit per employee?

• A) 1 percent
• B) 5 percent
• C) 10 percent
• D) 50 percent

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Definitions:

System 2

A term often used in behavioral economics, referring to slow, deliberative, and analytical thinking, contrasted with fast, instinctive, and emotional 'System 1' thinking.

Neoclassical Assumption

Underlying principles of neoclassical economics that include rationality, individuals maximizing utility, firms maximizing profits, and markets tending toward equilibrium.

Rational Behavior

Human behavior based on comparison of marginal costs and marginal benefits; behavior designed to maximize total utility. See rational.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.