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UML Stands for ________

question 61

Multiple Choice

UML stands for ________.

Definitions:

Shirking

The behavior of employees who work less hard or less efficiently when they feel that their efforts are not being adequately monitored or rewarded.

Principal-Agent Problem

A dilemma in which one party (the agent) is supposed to act in the best interest of another party (the principal) but may act in their own interest instead.

Compensating Wage Differences

The variation in wage rates to offset the attractiveness or unattractiveness of jobs, based on factors such as job difficulty or risk.

Piece Rates

Piece rates refer to a pay system where workers are paid a fixed rate for each unit of production completed, incentivizing higher productivity and efficiency.