This document of BUS 434 Week 1 Quiz shows the solutions to the following problems:

1. All but which one of the following conditions will influence jobs and job-related opportunities in the future?

Student Answer:

– rapid economic growth

– vigorous competition

– fewer advancement opportunities

– restricted wage and salary increases

2. Which of the following is a noncompensation benefit rather than a compensation benefit?

Student Answer:

– paid holidays

– unemployment insurance

– office Christmas party

– medical insurance

3. An organization designs and implements a reward system to

Student Answer:

– provide a medium of exchange of the income of an organization to its employees for their monetary and in-kind claims on goods and services

– promote the comradeship of workplace associates

– focus worker attention on the specific behaviors the organization considers necessary to achieve its desired objectives and goals

– require employees to perform assignments for which they are best suited

4. Claims on goods and services made available and paid for either totally or in some percentage by the employer are

Student Answer:

– monetary rewards

– in-kind rewards

– noncompensation rewards

– nonfinancial rewards

5. A company car, a company credit card, and subsidized food services are all examples of which one of the following forms of payment?

Student Answer:

– deferred income

– family income

– income equivalent

– incentive income

6. The financial strength to own your own home normally begins with entry into the

Student Answer:

– working poor

– lower-middle class

– middle-middle class

– upper-middle class

7. All but which one of the following assumptions are included within the model of perfect competition?

Student Answer:

– employers seek to maximize profits

– workers have perfect information about wages and job opportunities

– available workers differ with respect to both skill and performance

– all jobs in the labor market are open to competition

8. Approximately what percentage of workers are unionized?

Student Answer:

– 8

– 10

– 12

– 14

9. Which one of the following is not considered as part of a compensation program?

Student Answer:

– Benefits and services

– Short- and long-term incentives

– Job-related training

– Wage and salary add-ons

10. Which one of the following states has the highest level of personal income?

Student Answer:

– Tennessee

– Montana

– Connecticut

– New York