Increasing Output Without Increasing Costs Is Likely to Make Employees

question 24

Multiple Choice

Increasing output without increasing costs is likely to make employees:

• A) reduce the time they spend in detour behavior.
• B) unhappy that they are asked to work harder without additional pay.
• C) reject the principles of job enlargement and job enrichment.
• D) readily adopt the principles of job enlargement and job enrichment.

Analyze the impact of currency fluctuations on the supply and demand for currencies due to financial market dynamics.

Understand the effects of currency devaluation on consumer and supplier costs, and how it influences export and import prices.

Grasp the concept of purchasing power parity and its implications on currency value relative to inflation and price levels across countries.

Comprehend how technological advancements in a country can affect its currency's international value.

---

Definitions:

Revenue-Maximizing Price

The optimal price of a good or service that maximizes the total revenue for a seller.

Demand Function

An equation that describes the quantitative relationship between the demand for a good and various factors affecting it, such as price, income, and price of related goods.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting the sensitivity of consumers to price changes.

Normal Goods

Normal goods are goods whose demand increases when consumer income rises, and decreases when consumer income falls, opposite to inferior goods.