Bus 405 Wk 6 Quiz 5 Chapter 7 - All Possible Questions Essay

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BUS 405 WK 6 Quiz 5 Chapter 7 - All Possible Questions

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1. The majority of private sector union contracts do not contain a cost-of-living adjustment (COLA) clause.

2. The majority of private sector employees participate in a profit sharing plan.

3. Most unions consider gain sharing plans as an adequate substitute for traditional negotiated hourly wage gains.

4. The global economy of today has made it easier for employers to pass labor cost increases on to consumers by raising product or service prices.

5. Skill-based pay sets the wage
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17. Union leaders often view job evaluation with disfavor because it tends to limit bargaining opportunities and freeze wage structure.

18. The majority of union contracts include a pension plan that can best be described as a defined contribution plan.

19. Unions generally favor the use of an employee stock ownership plan (ESOP) as a basic pension plan for employees.

20. The term “value added” refers to the contribution of factors of production to the value of a final product or service.

MULTIPLE CHOICE

1. The federal agency responsible for enforcement of the Family and Medical Leave Act is:
a. Family and Medical Leave Administration.
b. Equal Employment Opportunity Commission.
c. Department of Labor.
d. Federal Standards Board.
e. National Labor Relations Board.

2. A widely recognized group incentive plan based on labor cost savings is the:
a. Merit savings plan.
b. Profit sharing plan.
c. Piece rate plan.
d. Scanlon plan.
e. Premium pay plan.

3. Under a cliff vesting schedule, an employee is considered fully vested after completing ____ years of service.
a. 10
b. 5
c. 15
d. 20
e. 30

4. The relative influence of job evaluation can be seen in the ___________, which represents the internal distribution of the proposed or negotiated wages.
a. skill-based pay
b. skill pay differential
c. wage spread
d.

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