QUESTION 1 ERISA compels employers to offer a pension plan to all the employees.

Question

QUESTION 1

ERISA compels employers to offer a pension plan to all the employees.

True

False

QUESTION 2

The Scanlon plan’s major purposes are to reward both parties for productivity gains, encourage participation, and tie pay to company performance.

True

False

QUESTION 3

Because a unionized workforce increases wage costs, compared to unorganized firms in the same industries, a unionized firm is at a competitive disadvantage.

True

False

QUESTION 4

Unionized firms invest more in research and development because of the more skilled and productive labor.

True

False

QUESTION 5

Aaron, an employee at a manufacturing company, earns $18 an hour. If the company agrees to a new wage contract, Aaron will be paid $18.72 an hour. What is the percentage of wage increase the company must agree to?

A.

5 percent

B.

3.5 percent

C.

4 percent

D.

2.5 percent

QUESTION 6

If an employee selects a pension plan in which a fixed percentage of profit is allocated to each employee in proportion to his/her proportion of total employee pay in that employee group, which pension plan did he/she select?

A.

Defined benefit

B.

Salary reduction

C.

403(b)

D.

Defined contribution

QUESTION 7

According to an extensive study of union wage differentials:

A.

The private sector wage premium is higher today than it was in the 1970s.

B.

Public sector wage effects are smaller than those in the private sector.

C.

Nonunion workers are able to resist employers’ efforts to reduce wages better than unionized workers.

D.

There remains big variation in the premium across workers.

According to various studies on union’s effects on a firm’s performance:

A.

Unionized firms are 20 percent more productive than nonunionized firms in auto parts industries.

B.

Productivity was higher in public sector establishments in the hospital industry.

C.

Student achievement was negatively affected by unionization in education.

D.

Nonunionized workers were more productive than unionized workers in the construction industry.

QUESTION 9

The scientific management system included a hierarchical organizational and supervisory structure in which rank-and-file workers had a major say in the workplace.

True

False

QUESTION 10

Employees who are entitled to an overtime premium are often referred to as exempt employees.

True

False

A.

5 percent

B.

3.5 percent

C.

4 percent

D.

2.5 percent

Explanation / Answer

1.

False

ERISA is meant to protect the interest of the beneficiaries and employees who are promised by their employers. But, it does not force every employers to opt for the plans.

2.

True

It is a program that focuses upon the collective effort to improve the productivity and share the gains achieved through the productivity. It involves formal employee involvement so that productivity level is raised.

3.

True

A unionized firm has a higher wage cost and it is transformed into the price of the products and services. It brings disadvantage to the firm in the market.

4.

False

Unionized firms have higher cost of labor and less budget for the R&D work to focus upon.

5.

C.

% of wage increase = (18.72-18)/18 = 4%

6.

D

It is the plan, based upon the defined contribution.

Pl. repost other unanswered questions for their proper answers!

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