The Table Below Shows the Labour Demand and Labour Supply

question 119

Multiple Choice

The table below shows the labour demand and labour supply schedules in a competitive labour market.
TABLE 14-1
-Refer to Table 14-1.In a competitive labour market,a legislated minimum wage imposed at $10 per hour would

• A)have no effect on the competitive equilibrium level of employment.
• B)lead to unemployment of 500 hours/month.
• C)lead to over-employment of 500 hours/month.
• D)lead to an equilibrium wage higher than the competitive wage.
• E)lead to an employment level lower than the competitive level.

Distinguish between the concepts of voluntary and involuntary turnover and their impacts on organizations.

Understand the role of stock options, job embeddedness, and realistic job previews in employee retention.

Differentiate between various types of employment arrangements (part-time, leased, contingent) and their organizational implications.

Grasp the importance of organizational justice in the context of mergers and acquisitions and its impact on employee identity.

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Definitions:

Reconciliation Procedure

A process used to ensure that two sets of records (usually the balances of two accounts) are in agreement, identifying discrepancies and reasons for them.

Internal Control

Internal control constitutes the procedures and mechanisms implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Disbursements Procedure

A systematic method followed by a business to process and document the outflow of cash for various expenditures.

Bank Error

Mistakes made by a bank in recording transactions in a customer's account, requiring correction to reflect the accurate balance.