A Federally Sponsored Program Which Offers Loan Guarantees to Create

question 41

Multiple Choice

A federally sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment is called:

• A) the Small Business Administration.
• B) the Economic Development Administration.
• C) SBIC.
• D) U.S. Department of Agriculture's Rural Business Co-op Service.

Understand the opportunity cost of leisure and its relationship with wage rates.

Understand the relationship between human capital and technological progress.

Grasp the dynamics of labor supply curves including the backward-bending curve.

Recognize the factors that influence income distribution within an economy.

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Definitions:

Compensation-Level Strategy

An approach to determine the relative pay levels and benefits within an organization to stay competitive in the job market and retain employees.

Formulation Of Compensation Strategy

The process of defining how an organization structures and offers compensation in order to attract, motivate, and retain employees.

Successful Formulation

The process of effectively creating or devising plans, strategies, or products that achieve desired outcomes or objectives.

Compensation Strategy

A plan or approach developed by an organization to determine how to use compensation and benefits effectively to attract, retain, and motivate employees.