Which of the Following Statements About Human Resource Management Opportunities

question 68

Multiple Choice

Which of the following statements about human resource management opportunities and challenges is most accurate?

• A) The age composition of the labor force is becoming younger.
• B) Workers are becoming less loyal to their firms, resulting in higher turnover.
• C) Workers are now demanding that more of their compensation be in wages and salaries and less in fringe benefits.
• D) The number of workers who have received training in high-tech fields far exceeds the number of job openings in these areas.

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Definitions:

Rent Payment

Monetary compensation paid by a lessee to a lessor for the use of a particular property, piece of equipment, or facility.

Land Supplied

Land supplied indicates the quantity of land offered for use or development, affected by factors like pricing, zoning regulations, and market demand.

Rationing Function

The ability of market prices to allocate scarce resources efficiently among competing uses.

Incentive Function

The inducement that an increase in the price of a commodity gives to sellers to make more of it available (and conversely for a decrease in price), and the inducement that an increase in price offers to buyers to purchase smaller quantities (and conversely for a decrease in price).