The Use of HR Analytics Involves Measuring a Program's Success

question 8

Multiple Choice

The use of HR analytics involves measuring a program's success in terms of:

• A) whether it adopted a pro-innovation approach.
• B) whether it was perceived as effective by external stakeholders.
• C) whether it sustained the status quo.
• D) whether it delivered value in an economic sense.
• E) whether it enjoyed the support of trade unions.

Understand the concept of marginal revenue product (MRP) and its significance in hiring decisions.

Distinguish between the labor demand curve in perfectly competitive and imperfectly competitive markets.

Understand the effects of technological changes and substitution on labor demand.

Identify the factors leading to shifts in the labor demand curve.

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Definitions:

Tax Per Unit

A specific tax levied on a product based on the number of units purchased, not the value of the purchase.

Efficiency Loss

The loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.

Deadweight Loss

Deadweight loss is an economic inefficiency resulting from a disparity between supply and demand, often caused by market interventions like taxes or price controls, resulting in potential benefits not realized by any party.