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150 Cards in this Set
- Front
- Back
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Lazear refers to the accidental incentive as the possiblity of pay increases leading to promotions rather than vice-versa (T/F) |
True |
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Subjective performance evaluations can be especially effective for reducing risk to the employee (T/F) |
TRUE |
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Broader performance measures introduce more distortion and lower risk (T/F) |
FALSE-means you are going to measure things |
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Selling the job, for cases such as taxi drivers, works because they share the marginal benefit witht he employer (T/F) |
FALSE |
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When being rewarded performance, it is better to receive a lump sum than an equivalent pay raise (T/F) |
FALSE |
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When seeking to motivate creativity, it is imperative to draw from intrinsic motivation. (T/F) |
TRUE |
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The purpose of a performance evaluation should be to determine the individual's contribution to firm value. (T/F) |
TRUE |
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Risk in measurement can be an important factor in deciding between relative performance evaluation vs. standards-based performance. (T/F) |
TRUE |
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In Lazear's sabotage model, the individual with lower ability is more likely to practice sabotage. (T/F) |
TRUE |
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In Lazear's Hawks vs. Doves model, everyone should try to be a hawk. (T/F) |
FALSE |
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Benefits are not an important part of compensation and should not be studied. (T/F) |
FALSE |
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Some benefits may provide a major motivation fo seeking employment at a particular company. (T/F) |
TRUE |
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Lazear and Gibbs state that the best benefit plan allows employees to choose and provides rewards for not using unnecessary benefits. (T/F) |
TRUE |
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An entrepreneur should only seek to hire individuals with the same level of skill. (T/F) |
FALSE |
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Trust is required to establish an effective employment relationship. (T/F) |
TRUE |
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The set of institutions by which a society is ruled is called a... a. conglomerate b. corporation c. social league d. government |
D. Government |
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Politician theory has its origins in the writings of... a. aristotle b. douglas c. comte d. durkheim |
A. Aristotle |
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Political ideology consists of... a. passing trends in economic theory b. deeply held beliefs in ideas about the best form of government c. temporary ideas about family institutions d. beliefs held with little conviction |
B. Deeply held beliefs in ideas about the best form of government |
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Of all institutions of social control, governmetn is the msot powerful and... a. inclusive b. exclusive c. dangerous d. safe |
A. Inclusive |
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In the current timefram, democracy is the form of government in about... a. 70% b. 10% c. 30% d. 90% |
C. 30% |
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The right of individuals to select their leaders by voting for them is called... a. autocratic right b. oligarchy c. popular sovereignty d. devine right of the monarchy |
C. Popular Sovereignty |
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Democracy is a Western ideology. For democracy to work, one needs the right environment which includes... a. commitment to minority rights b. commitment to religion over democracy c. technology available for a print and other media communications network d. tradtion of respect for group over individual rights |
A. Commitment to minority rights |
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24.) In autocratic government its right to rule... a. derived from the people b. depend on the majority c. derived from power |
C. Derived from power |
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The concept of the individual as a ration being, equal to all others is a primary idea of... a. totalitarianism b. democracy c. authoritarian autocracy d. autocracy |
B. Democracy |
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A formal and constitutionally binding expression of preference in favor of the prime minister by the French parliament is called... a. a censure motion b. excommunication c. impeachment d. a vote of confidence |
D. A vote of confidence |
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In the French system of government the President... a. is appointed by the prime minister b. chooses a cabinet before picking a prime minister c. elected for life d. appoints the prime minister |
D. Appoints the prime minister |
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Presidents in Mexico serve only one term that is how long... a. 2 years b. 4 years c. 6 years d. 8 years |
C. 6 Years |
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Prior to its 1960 independence, Nigeria was a protectorate of wich country? a. U.S b. The Soviet Union c. Holland d. Great Britain |
D. Great Britain |
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The Union of Society Socialist Republics ended in... a. 1917 b. 1991 c. 1986 d. 1946 |
B. 1991 |
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The President of the Russian Federation is... a. appointed by the Duma for a 10 year term b. elected for a 4 year term c. selected by the Communist part d. very weak in compairson with the Duma |
B. Elected for a 4 year term |
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The first 10 amendments to the Constitution were adopted in 1791 and are called... a. last amendments b. constitutional extension c. the modifiers d. the bill of rights |
D. The Bill of Rights |
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The Constituion divided the national government into three branches: executive, legislative and... a. economic b. judicial c. commercial d. records |
B. Judicial |
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For Legal purposes, the constitution of the United States means whatever the... a. chief executive says it means b. speaker of the house says it means c. president and vice president think it means d. Supreme Court says it means |
D. Supreme Court says it means |
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The form of government in which the head of state does not inherit the office but is elected by citizens is called a... a. monarchy b. republic c. quasi-monarchy d. partial dictatorship |
B. Republic |
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A pure democracy is a political system under which... a. the people make most govvernmental decisions through elected reps b. all citizens vote directly on every piece of legislation c. one person is able to represent all d. no government decisions are ever made |
B. All citizens vote directly on every piece of legislation |
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Those powers expressly delegated by the Constituion are called... a. flexible powers b. popular powers c. enumerated power d. divided powers |
C. Enumerated power |
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Concurrent powers are those powers belonging... a. only to the states b. only to the naiton government c. to both the national and state governments d. to foreign governments |
C. To both the national and state governments |
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Supplementing and modifying the principle of separation of powers is... a. popular rotation b. checks and balances c. tyranny d. emergency powers |
B. Checks and Balances |
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Economic good are the objects of our economic wants and are the things that... a. are constant in supply b. money can buy c. are never scarce d. are always impossible to place a price on |
B. Money can buy |
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Wealth is what we call... a. material economic good or the money to buy them b. the material and nonmaterial items of our culture c. services we desire d. economic goods we cannot see or feel |
A. Material economic good or the money to buy them |
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All economic good take the form of either wealth of... a. savings b. services c. possessions d. property |
B. Services |
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43.) Adam Smith's concept of the invisible hand refers to... a. government controls b. import and export costs c. the rise and fall of prices that guide individual actions in a marker d. the combinded impact of foreign trad e and aid on a national economy |
C. The rise and fall of prices that guide individual actions in a marker |
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44.) The effects of a firm's actions or decicions that negatively affect others but that the firm does not consider when undertaking action are called... a. externalities b. manifest consequences c. the cost of doing business d. ancillaries |
A. Externalities |
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The Keynesian Revolution introduced the concept that government... a. should not intervene in the economy b. must resist the desire to stablilize the economy c. should not be concerned with unemployment figures d. can and should play a stabilizing role in the economy |
D. Can and should play a stabilizing role in the economy |
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46.) From 1929 to 1932, US industrial production and national income... a. rose by 33% b. dropped by about half c. increased by 25 percent d. dropped by about 90 percent |
B. Dropped by about half |
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Money has valiue because the Federal Reserve... a. backs its notes with silver b. backs its notes with gold c. Issues notes in any amount in unlimited quantities d. issues limited quantity of its notes |
D. Issues limited quantity of notes |
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To maintain its dominance ina globalized economy, and the higher wages that go with that dominance, the US will have to maintain... a. technological edge b. larger work force c. outsourcing d. higher standard of living |
A. Technological Edge |
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The dominant global ideology today is... a. democratic capitalism b. communist ideology c. fascits ideology d. unilateralism |
A. Democratic Capitalism |
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In the U.S gov, the right to appoint and receive foreign diplomats is assigned to the... a. senate b. house of representatives c. supreme court d. president |
D. President |
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The president's authority in foreign affairs is augmented by... a. vice president's role as foreign minister b. president role as commander in chief of the armed forces c. cabinet's role in enacting treaty legislation |
B. President's role as commander in chief of the armed forces |
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The current structure of the U.S democratic system clearly... a. divides the war power functions b. indicates that only the president can make war |
A. Divides the war power functions |
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Since the 1930's, the importance of international trade for the U.S has... a. declined b. remained unchanged c. increased until 1950 and then sharply declinedd. grown significantly |
D. Grown significantly |
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Which of the following in NOT an advantage of internation trade? a. better product can be obtained b. lower prices for products c. local producers may be hurt |
C. Local producers may be hurt |
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Most economists oppose the levying of... a. all taxes b. protective tariffs c. any kind of minimal tariff d. any kind of revenue generating tax by a gov |
B. Protective Tariffs |
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The U.S changed from a fixed exchange rate to a generally flexible exchange rate in... a. 1917 b. 1986 c. 1945 d. 1971 |
D. 1971 |
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If countried decide to stop accepting U.S dollars and promissory notes and instead want good and services, the value of the dollar will likely... a. fall substantially b. rise modestly c. decrease slightly d. be maintained |
A. Fall Substantially |
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Developing countries often suffer when the individuals who could help a country devlop leave. This process is called... a. brain drain b. leverage buying c. power loss |
A. Brain Drain |
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Developing countries are called developing because they have... a. fewer languages than developed countries b. smaller populations than developed countries c. larger populations than developed countries d. lower incomes than developed countries |
d. lower incomes than developed countries |
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The World Bank is an international organization to help... a. developed countries profit from developing countries' problem b. foster development through loans and advice c. finance failing governments as a tax evading tactic d. the development countries remained dominant
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B. Foster development through loans and advice |
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Over the last 60 years, the U.S. has given foreign aid at about the rate of... a. 10% of U.S. total output b. one half of 1% of total U.S. output c. 33% of U.S. total output d. 50% of U.S. total output |
B. One half of 1% of U.S. total output |
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Open book management is an ideal practice for employers. (T/F) |
FALSE |
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The best entrepreneurs have a limited range of skills, but are very good at 1 thing. (T/F) |
FALSE |
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Non-pecuniary benefits cannot be used to motivate employees. (T/F) |
FALSE |
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In designing employee performance evaluations, it is important to... a. maximize employee risk b. include all available information c. only utilize what is measurable d. minimize consideration of uncontrollable factors e. ask for references from past performances |
D. Minimize consideration of uncontrollable factors |
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Introducing a well designed pay-for-performance compensation scheme can lead to the following sorting effects... a. An increase in the proportion of more capable applicants b. A decrease in the proportion of less capable applicants c. Offering improved compensation to your more productive workers d. Reducing the compensation received by your less productive workers e. All of the above |
E. All of the above |
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Using paid-time-off as an employee benefit in lieu of overtime could be counterproductive to the firm because... a. Employees who work harder and are more productive may prefer the money over a day-off b. Other employees will get jealous of "the slacker" c. Taking days off could become habit-forming d. Certain employees might prefer to earn money for a nice vacation e. all of the above |
A. Employees who work harder and are more productive may prefer the money over a day-off |
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The primary benefit to the firm from using a tournament promotion model is... a. using an accepted performance standard for evaluation b. cost savings on executive salaries for all levels above the tournament c. reduced evaluation costs and time collecting metrics d. adding outside competitors into the tournament mix e. none of the above |
E. None of the above |
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A firm that "sells the job" to its employees engages in the following... a. offering free on-the-job training to help employees perform better b. telling them why their job is important and how their efforts contribute to the firm's success c. providing liberal non-pecuniary benefits for employees and family members d. using fixed compensation to keep employees from reaping the full marginal benefits of their efforts e. none of the above |
E. None of the above |
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The Prisoner's Dilemma is introduced by Lazear & Gibbs in the context of... a. the danger of seemingly trustworthy employees engaging in illicit activities b. policy problems arising from our overburdened criminal justice system c. illustrating the likelihood of non-optimal outcomes when parties do not cooperate d. they need to improve cooperation in the firm across all levels of the firm e. An example of the "Market Metaphor" in prisons |
C. Illustrating the likelihood of non-optimal outcomes when parties do not cooperate |
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A company-sponsored retirement plan in which the firm provides a benefit computed according to years worked and average wage is known as a... a. cafeteria plan b. defined benefit retirement plan c. defined contribution retirement plan d. portable vested retirement plan e. general contribution pre-tax savings plan |
B. Defined benefit retirement plan |
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Principal-Agent frameworks presented by Lazear & Gibbs that... a. Principals and agents can always arrive at win-win agreements b. Measures used should be observables that are closest to output and most aligned with the principal's (firm's) objectives c. All available measures should be identified and used, regardless of their variability and whether or not they are observable d. all of the above e. A and C |
B. Measures used should be observables that are closest to output and most aligned with the principal's (firm's) objectives |
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Scientific knowledge is knowledge that has been.. a. systematically gathered, classified, related, and interpreted b. rediscovered and cherished as dogma c. found to be in agreement with popular opinion d. tested until it is perfect and then retained unchanged forever |
a. systematically gathered, classified, related, and interpreted |
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There are many different social science disciplines with varying approaches but in understanding modern problems, social scientists need to know... a. which discipline is best b. less about the past c. more about their own specialty d. how the social sciences interrelate |
d. how the social sciences interrelate |
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In the social sciences, very little use can be made of controlled experiments because the investigator... a. cannot control the situations b. does not need this method c. knows too much about human behavior d. must not be part of the experiment |
a. cannot control the situations |
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The social science method that involves making a detailed examination and analysis of a particular issue or problem situation is called the... a. comparative method b. case method c. historical method d. cross-cultural method |
b. case method |
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The process of random genetic changes that create new characteristics is called...
a. natural selection b. mutation c. competition d. migration |
b. mutation |
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Where did the human species believed to have originated from?
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Africa |
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What is the Delphic Method?
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Social scientists have interpretations reviewed by other specialists in the field |
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Genetic engineering, including cloning technology, presents society with... a. easy solutions for medical problems without ethical questions b. no choices, only solutions c. clear benefits with no moral complications d. extraordinarily difficult moral and political questions |
d. difficult moral and political questions |
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A 2003 fossil find of a modern human in Ethiopia fits recent genetic studies and supports the... a. multiregional continuity theory of human evolution b. gene flow exchange theory c. "out of Africa" replacement theory d. "out of Eurasia" migration theory |
c. "out of Africa" replacement theory |
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Leaders of early kingdoms in Egypt and Mesopotamia became king gods. (T/F) |
TRUE |
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Features in Roman history include engineering, political administration, and .... a. lack of military undertakings b. law c. music d. abolition of slavery |
b. law |
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The Hundred Years War (1337-1453) was between which two countries? a. Spain and Italy b. Germany and Denmark c. England and France d. Poland and Russia |
England and France |
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The percent of population who died from the Black Death in Europe was... a. 100% b. 80% c. 40% d. 50% |
c. 40% |
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In 1453, who did Constantinople fall to? a. Turks b. Russians c. Greeks d. Italians |
a. Turks |
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Adverse selection in the context of Lazear and Gibbs refers to... a. the tendency of contracts or agreements to attract undesired participants b. the tendency of all workers to be adverse to long work hours c. hiring adversaries to increase competition d. all of the above |
a. the tendency of contracts or agreements to attract undesired participants |
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The typical age-earning profile over the career of an individual identifies the following... a. wages exceeding productivity at the end of the career profile b. highest wages occurring at the end of the career c. wages exceeding productivity at the beginning of the career profile d. all of the above e. A and C above |
e. A and C |
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Turnover in a firm must be minimized in order to maintain training costs at a reasonable level. (T/F) |
FALSE |
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In theory, raiding other firms for talented employees... a. is unlikely to be profitable unless the employee is worth more to the raiding firm b. is advisable when the raiding firm has a competitive advantage c. can occur when the firm being raided is in decline d. all of the above e. none of the above |
d. all of the above |
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Within the knowledge captured by an employee, Specific Knowledge includes... a. information that would be useful to any employer b. things that are well explained with specific detail c. information that is perishable, complex, technical, idiosyncratic, or experimental d. information that is documented, particular, professionally relevant and not time-dependent e. complete knowledge, because a process cannot be full characterized without full details |
c. information that is perishable, complex, technical, idiosyncratic, or experimental |
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A properly deigned pay for performance compensation scheme can improve organizational production by... a. encouraging less productive workers to seek alternative employment b. making your least productive employees take notice of new possibilities c. improving incentives and output for even the most productive workers d. all of the above e. A and C above |
d. all of the above |
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An important difference between General Knowledge and Specific Knowledge is that... a. General Knowledge is less costly to communicate and more likely to be centralized b. specific knowledge requires less effort c. specific knowledge can be used by any employer d. firms do not distinguish between the two e. all of the above |
a. general knowledge is less costly to communicate and more likely to be centralized |
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The Lazear and Gibbs framework for decision making within an organization includes the following processes... a. monitor, investigate, rate, review b. evolve, reason, agree, review c. initiate, ratify, implement, monitor d. varies by the situation, but can include any reasonable process |
c. initiate, ratify, implement, monitor |
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Creating teams in organizations can have associated costs and benefits that include... a. communication b. free riding c. specialization d. all of the above e. A and B above |
d. all of the above |
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Tournament theory suggests that using a tournament for executive promotion can cause... a. diminished teamwork and cooperation among senior employees b. higher levels of output from those competing in the tournament c. a potential for a non-optimal pool of participants in the tournament d. all of the above c. A and C above |
d. all of the above |
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Distortion in employee evaluation and performance is more likely to occur when the employee evaluation includes a comprehensive set of metrics. (T/F) |
FALSE |
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Employee stock options are most effective when... a. every employee enjoys the same access to the benefit b. the firm is so profitable that Free Raiders are nothing to worry about c. the position contains sufficient incentive intensity for the employee to reliably affect firm profit and values d. all of the above |
c. the position contains sufficient incentive intensity for the employee to reliably affect firm profit and values |
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Executive performance for a publicly traded firm is best measured by... a. the stock price b. a combination of factors that emphasizes the wellness of employees and the firm's contributions to the public good c. carefully designed dashboard to performance metrics that provides real-time feedback d. because no measurement system is perfect, the corporate board can more easily rely on a relationship based evaluation of the CEO |
a. the stock price |
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Substitutions calling for a firm to base its promotion criteria on an absolute standard rather than a tournament include... a. the number of promotion slots available to fill is not fixed b. hiring from the outside is feasible c. the performance standard is accepted and widely used d. consistent professional quality among those promoted is desired e. all of the above |
e. all of the above |
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A firm may profitably provide certain new categories of benefits to its employees if... a. the benefit can be provided more cost effectively by the firm than by the employee b. the benefit will improve employee productivity by an amount exceeding the cost of its provision c. A or B apply and the benefit may improve self-selection of desired applicants d. the benefit is provided by firms in other industries |
c. A or B apply and the benefit may improve self-selection of desired applicants |
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Today the rate of technological change is increasing... a. and so is the interaction among cultures b. but cultural interaction is decreasing c. but close contacts with distant lands is ending d. and cultural differences are greater |
a. and so is the interaction among cultures |
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Geography and climate are... a. unrelated to the natural environment b. always stabilizing factors in social changes c. never important when people migrate d. important factors to consider in social change |
d. important factors to consider in social change |
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Geography considers all the following except... a. why cities are located where they are b. why some areas develop while others don't c. why rivers flow in certain directions d. how technology can affect development |
c. why rivers flow in certain directions |
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What do demographers believe to be true of worldwide birthrates? a. birthrates will continue to rise as they have since 1909 b. birthrates wil continue to decline as they have since 1909 c. birthrates will continue to elude demographers as counting birthrates is nearly impossible d. birthrates will only increase in preposterous westernized nations |
b. birthrates wil continue to decline as they have since 1909 |
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In 1798, "an Essay on the Principle of Population as it Affects the Future Improvement of Society" was written by... a. Diderot b. Thomas Jefferson c. Charles Darwin d. Thomas Malthus |
d. Thomas Malthus |
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The Age of Revolutions (1750-1850) is referred to as such because... a. some of the bloodiest wars in history occurred during this period b. there was enormous economic and political changes occurring at this time c. communism took hold of the western world d. Great Britain lost the Industrial Revolution |
b. there was enormous economic and political changes occurring at this time |
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The total organization of the inherited and acquired characteristics of an individual as evidenced by human behavior is called Personality. (T/F) |
TRUE |
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Each individual is an independent entity without dependency on culture. (T/F) |
FALSE |
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The experiences of a young child within the family group seem to have little influence on human personality development. (T/F) |
FALSE |
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Personality bears the imprint of four things: inherited potentialities of the individual, natural environment, the culture of an individuals society, and unique personal experiences. (T/F) |
TRUE |
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Abraham Maslow developed the Oedipus complex to explain personality development. |
FALSE |
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Functionalists argue that deviance is a necessary part of a society. (T/F) |
TRUE |
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Economists argue that exploring crime through a cost-benefit approach fully explains the issue. (T/F) |
FALSE |
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Ideally, U.S. education is a fundamental building block of U.S. democracy. (T/F) |
TRUE |
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In the early 2000's, almost 100% of children from the ages of 5-17 are in school at least some days every school year. (T/F) |
TRUE |
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Community colleges are no longer regarded primarily as institutions preparing students to enter four-year colleges. (T/F) |
TRUE |
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Research has found that attending independent schools leads children towards isolation, narrow interests, and poor socialization. (T/F) |
FALSE |
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Local financing of schools has no effect on the quality of the schools. (T/F) |
FALSE |
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The unemployment rate among high school dropouts is roughly the same as for high school graduates. (T/F) |
FALSE |
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The tendency to pass students from grade to grade on the basis of little or no achievement is strengthened by a policy of social promotion. (T/F) |
TRUE |
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The college curriculum has evolved from an elective system to a rigid system. (T/F) |
FALSE, reversed |
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The expression "liberal education" is associated with the attempt to give students a narrow specialized education. (T/F) |
FALSE |
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The lessening of stratification often is accompanied by social unrest because that reduction focuses attention on the unfairness of the system. (T/F) |
TRUE |
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In India, the government is reinforcing the caste system by denying university placements for lower caste members. (T/F) |
FALSE |
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Most modern industrial societies do not have formal stratification systems. (T/F) |
FALSE |
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Mobility in a class system is much less possible than in a caste system. (T/F) |
FALSE |
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Greg Duncan and colleagues compared class mobility between 1968-1979 and 1980-1987 and found that the incidence of upward mobility for those in the lower class increased. (T/F) |
FALSE, decreased |
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Discussions of mobility often overlook one simple fact: Room at the top is always limited. (T/F) |
TRUE |
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Horizontal mobility has reduced class consciousness in the U.S. (T/F) |
TRUE |
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Karl Marx believed capitalistic exploitation would lead to an increase in the condition of the worker. (T/F) |
FALSE |
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Defining poverty is easy for social scientists. (T/F) |
FALSE |
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Race is a social construction only loosely based on a few biological differences. (T/F) |
TRUE |
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Ethnic divisions in Bosnia and Rwanda in the 1990's led to the tragic slaughter of large numbers of people. (T/F) |
TRUE |
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The U.S. is the only country that has problems with prejudice and discrimination. (T/F) |
FALSE |
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Importation of slaves into the U.S became illegal in 1808. (T/F) |
TRUE |
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Since 1954, no major civil rights laws have been passed in the U.S. (T/F) |
FALSE |
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The largest minority group in the U.S. is African-Americans. (T/F) |
FALSE, Hispanics |
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The 1986 law passes by congress to grant amnesty to illegal aliens who have been in this country for more than 5 years effectively resolved the problem of citizenship for illegals. (T/F) |
TRUE |
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In small societies, forms of organized government do not exist. (T/F) |
FALSE |
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A basic function of government is to protect its citizens from internal and external enemies. (T/F) |
TRUE |
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The belief in the rule of elite whose members have special abilities is called fascism. (T/F) |
TRUE |
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Justice Oliver Wendell Holmes said, "I like to pay taxes. With taxes I buy civilization." (T/F) |
TRUE |
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In an autocracy, a leader who has lost the support of the people may find it difficult to stay in power. (T/F) |
TRUE |
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In an autocracy, the press, religion, family, work, and society are all subject to strict controls designed to maximize the freedom of citizens. (T/F) |
FALSE |
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In Saudi Arabia, the country's oil revenues constitute more than 75 % of its annual budget. (T/F) |
TRUE |
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Saudi Arabia has no written constitution. (T/F) |
TRUE |
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Today, Nigeria has various regional governments, and is divided into 36 states and 774 local governments. (T/F) |
TRUE |
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For administrative ease, the British government grouped together three distinct tribal regions into one area, now called Lagos. (T/F) |
TRUE |
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A general fiscal policy is that if total spending in the economy is too low, the government should run a budget surplus. (T/F)
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FALSE |
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The amount of money the federal government spends on interest payments for its debts has diminished because it has significantly reduced the national debt in the last decade. (T/F) |
FALSE |
