Payback agreements require an employee ________

Chapter Quiz-7
This activity contains 22 questions.
Question 1.
________ refers to a collective bargaining practice in which a national industry or union strives to establish equal wages and benefits from several unions or employers in the same industry.

o Pyramiding
o Pattern bargaining
o Arena bargaining
o Concession bargaining
o Front-end loading

Question 2.
As per the Fair Labor Standards Act, an employee is most likely to be considered eligible for receiving overtime pay if the employee ________.

o earns over $100,000 per year
o has the authority to hire/fire or recommend the hiring or firing, or promotion of others
o directs two or more full-time employees
o exercises independent judgment on matters of significance for the company
o makes a salary of less than $455 per week

Question 3.
The ________ of 1931 regulates employers who hold federal government contracts of $2,000 or more for federal construction projects.

o Walsh-Healey Act
o Davis-Bacon Act
o Taft-Hartley Act
o Scanlon Plan
o Consumer Price Index

Question 4.
Apex Motor Inc. pays $5 to its workers per unit produced. Which of the following wage systems does the company use in this case?

o piece-rate system
o deferred wage system
o Scanlon plan
o profit-sharing plan
o two-tier wage system

Question 5.
________ refers to a deferred wage increase in which a larger proportion of the total increase occurs in the first year of a multiyear contract.

o Pink sheeting
o Falling piece rate
o Front-end loading
o Rising piece rate
o Pyramiding

Question 6.
Cost of living adjustments are generally based on the value of the ________.

o gross domestic product (GDP)
o gross national product (GNP)
o retail price index (RPI)
o consumer price index (CPI)
o gross national income (GNI)

Question 7.
Which of the following statements is true of a Scanlon plan?

o It is a method of providing a general wage increase as a onetime payment rather than adding the increase to the hourly or annual salary of the employee.
o It is a group incentive plan in which accrued savings resulting from increased efficiency are distributed among the workers and the employer.
o It is a method of providing a general wage increase where a lower wage adjustment is provided in the first year with higher increases in later years.
o It is a wage plan that pays newly hired workers less than current employees performing the same or similar jobs.
o It is a wage system in which employees receive a standard rate of pay per unit of output.

Question 8.
Which of the following statements is true of a two-tier wage system?

o It is a wage system in which employees receive a standard rate of pay per unit of output.
o It is a pay incentive system in which employees receive a share of the employer's profits on a monthly basis as their salary.
o It is a method of providing a general wage increase as a onetime payment rather than adding the increase to the hourly or annual salary of the employee.
o It is a group incentive plan in which accrued savings resulting from increased efficiency are distributed among the workers and the employer.
o It is a wage system that pays newly hired workers less than current employees performing the same or similar jobs.

Question 9.
Which of the following terms refers to a method of providing a general wage increase as a onetime payment rather than adding the increase to the hourly or annual salary of the employee?

o Scanlon plan
o two-tier wage system
o lump-sum payments
o piece-rate system
o profit-sharing plan

Question 10.
According to the value-added theory, ________.

o wage increases provided to the workers should be based on the changes in the consumer price index
o the wages of the employees should equal the contribution of labor to the final product
o newly hired workers should be paid less than existing employees performing the same or similar jobs
o employees should be paid a fixed hourly rate of pay irrespective of their productivity
o the profit achieved by the company should be distributed among its employees on the basis of seniority

Question 11.
The payment of overtime on overtime that occurs if the same hours of work qualify for both daily and weekly overtime payment is known as pyramiding.

o True
o False

Question 12.
Front-end loading refers to a deferred wage increase with a larger proportion of the total percentage increase in the first year of the agreement.

o True
o False

Question 13.
The value of the cost of living adjustments (COLAs) is usually based on the consumer price index.

o True
o False

Question 14.
Pyramiding is a pay incentive system in which employees receive a share of the employer's profits in addition to their regular wages.

o True
o False

Question 15.
Front-end loading is a method of providing a general wage increase as a onetime payment rather than adding the increase to the hourly or annual salary of the employee.

o True
o False

Question 16.
Payback agreements require an employee who voluntarily quits before a specified period of time to pay the employer the cost of certain benefits.

o True
o False

Question 17.
Job evaluation is the process of analyzing employee performance.

o True
o False

Question 18.
Even in labor-intensive organizations, the labor costs rarely rise above 20 percent of the total costs.

o True
o False

Question 19.
The base compensation given to an employee includes overtime, pension benefits, and bonuses.

o True
o False

Question 20.
The first step in determining compensation costs is to determine the value of the pension benefits.

o True
o False

Question 21.
Discuss the Davis-Bacon Act.

Question 22.
What is arena bargaining?