The "Perfect Storm" of Factors That Contributed to the Economic

question 136

Multiple Choice

The "perfect storm" of factors that contributed to the economic crisis of 2007 include

• A) increases in the minimum wage rate, unchecked illegal immigration, and state government deficits.
• B) financial deregulation, unchecked commodity prices, floating currency exchange rates.
• C) poorly chosen mortgage loans, falling housing prices, and a contracting economy.
• D) agency costs, inefficient markets, and perfect capital markets.

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Definitions:

Base Pay Rates

The initial rate of compensation that an employee receives before any extra benefits, bonuses, or overtime pay is added.

Job Classification Method

A system used in human resource management for categorizing jobs into groups based on similarities in duties, responsibilities, and requirements.

Pay Grade

A step or level within an organization's salary structure that determines the amount of pay an employee receives.

Employee Competencies

The range of skills, knowledge, and attributes that are required for an employee to perform their job successfully.