1 1 . Nonmonetary incentives are A) unimportant and unused. B) important but unu
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1 1 . Nonmonetary incentives are A) unimportant and unused. B) important but unused C) unimportant but used. D) important and used 12. Which of the following best illustrates the concept of dimmhngmynd wile' A) Gladys is hungry and the first piece of pizza she eats tates wonderfult eS B) Thomas likes tomatoes more than Janice, and thus gets mone ulity o mae C) High Fly is a new low-cost airline. Initially, it is very espemive orHig D) Sarah likes hamburgers, but the price she is willing to pay for tiem is low piece of pizza she eats makes her sick than Janice does. offer flights to customers because of the high start- cnt, but afher cnering fixed costs, the additional cost of adding one sore cionsumer allis sinificant compared with another good she also likes With a tax on consumers, demand A) increases B) decreases. C) remains in the same location. D) shifts in an indeterminate direction. 13. 14. By law, workers pay half the Social Security tax and emplogerns pey the otfier haits this a fair way to allocate the tax? A) No, workers should pay the whole tax. B) No, employers should pay the whole tax. C) Yes, the legal responsibility for the tax has nohing to do with who aitimatle p so it is as good an allocation as any other Economics cannot answer such a question. D) 15. With a subsidy to consumers, supply A) increases. B) decreases. C) remains the same. D) shifts unpredictably.Explanation / Answer
11. (D) important and used
There are two types of incentives given in an organisation. Monetary and non monetary. Monetary incentives are more valued because at the end money matters and when an employee gets cash in hand as reward he is more happy.But non monetary incentives are also important and used in organisations as a motivating factor.
12. (A) Gladys is hungry and the first peice of pizza she eats tastes wonderful. the fifth piece of pizza she eats maker her sick.
Diminshing marginal utility is explained as a sitation where a customer consumes a certain product and he gets less satisfaction with each additioanl unit of the same product.
13. (B) decreases
TAx on consumers always decreases the demand as well as the supply as the customers have to pay more with tax for the same quantiity so the demand falls.
14. (C) Yes, the legal responsibility for the tax has nothing to do with who ultimately pays, so if as good an allocation as any other.
One party gives the social security and the other receives it. Employer gives it and the worker receives social security so both are liable to pay. It is the law which decides who should pay and how much so it is as good an allocation as any other.
15.(D) shifts unpredictably
When subsidy is given to producers the supply will increase as they are in a position to prouduce more with same investement. But when subsidy is given to consumers their demand increases as they get same amount of goods for less amount but the supply change cannot be predicted, it can increase or decrease . So the supply curve shifts unpredictably.
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