Rankings Established Through the Job Evaluation Process Are Used by Organizations

question 62

Multiple Choice

Rankings established through the job evaluation process are used by organizations to determine:

• A)any job's relative worth
• B)any job's absolute worth
• C)any job's variable value
• D)any job's worth as perceived by the jobholder
• E)any job's worth as perceived by the manager

---

Definitions:

Natural Rate of Unemployment

The unemployment rate at which the economy is considered to be at full employment, with no cyclical or deficient-demand unemployment.

Phillips Curve

An economic theory proposing a short-term inverse relationship between inflation and unemployment rates, initially suggested by economist A.W. Phillips.

Labor Markets

The supply and demand for labor, where employers seek to hire workers and workers seek employment, influencing wages and working conditions.

Long-run Phillips Curve

A visual depiction illustrating that over an extended period, there exists no compromise between the rates of inflation and unemployment.