A Company Using a Labor Market Model Holds the Philosophy

question 15

Multiple Choice

A company using a labor market model holds the philosophy that:

• A) the wage rate for any given job is set at the point where the supply of labor equals the demand for that labor in the marketplace.
• B) internal equity is more important than external equity in a balanced labor market.
• C) egalitarian pay policies are more effective than elitist policies when labor demand is high.
• D) nonmonetary rewards are more effective motivators than monetary rewards.

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Definitions:

Particle Energy

The energy contained by a particle, contributed by its motion (kinetic), position (potential), or other properties.

Collision Theory

Collision theory explains how chemical reactions occur and why reaction rates differ for different reactions. It posits that for a reaction to occur, reactant particles must collide with sufficient energy and proper orientation.

Product Formation

The process in which chemical reactants transform into products in a chemical reaction.

Reactant Particles

Particles of substances that interact in a chemical reaction, leading to the formation of products.