Kevin Sweeney a Manager at Mixed Metals Manufacturing, Recently Posted

question 61

Multiple Choice

Kevin Sweeney a manager at Mixed Metals Manufacturing, recently posted data for employees on the optimum cutting tool speeds and the rate at which stock should be fed into machines for each job. This exemplifies which of Frederick W. Taylor's areas of study?

• A) Human relations study
• B) Time and task study
• C) Selection and training
• D) Standardization
• E) Pay incentives

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Definitions:

Fiscal Policy

Government adjustments to its spending levels and tax rates to influence a nation's economy.

Lag

Lag refers to a delay that occurs between the cause and effect of an economic policy or other measured variable in the analysis of data.

Income Effect

The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

The change in quantity demanded resulting from a change in the price of a good, making other goods more or less expensive relative.