Question 1

Ideally, what types of rewards form the best incentives?

Accepted Answer

Intrinsic rewards (such as a sense of accomplishment or personal satisfaction) can be motivating on their own, but it's often helpful to pair them with extrinsic rewards (such as a bonus or promotion) to increase motivation and reinforce desired behaviors. Combining intrinsic and extrinsic rewards can create a powerful incentive that appeals to both internal and external motivators.

Question 2

American Idol, the winner of the competition gets arecording contract. An average person is randomlypicked as a surprise entrant in the final round. Which ofthe following risks is most likely to occur in thistournament?

Accepted Answer

The most likely risk to occur in this tournament is the ability risk. The surprise entrant may not have the same level of singing ability or performance skills as the other finalists, making it difficult for them to compete for the recording contract.

Question 3

Corporate culture is the:

Accepted Answer

Corporate culture refers to the shared values, beliefs, assumptions, and practices that shape employee behavior and decision-making in an organization. It is not simply the natural interactions between individuals, nor is it easy to manage. While some corporate cultures may use extrinsic rewards as a mechanism, this is not always the case. Therefore, the best answer is B, as it captures the essence of what corporate culture is.

Question 4

a teacher grades on a curve, it will increase theincentive to study when:

Accepted Answer

The answer of a teacher grades on a curve, it...

Question 5

Tournaments work best when the risk from the outsideenvironment is ________ the ability risk.

Accepted Answer

Tournaments work best when the risk from the outside environment is greater than the ability risk. This is because when external risks are high, it's harder to assess individual performance accurately, making relative performance evaluations, like those in tournaments, more appealing.

Question 6

Ability risk can be described as the risk that:

Accepted Answer

The answer of Ability risk can be described as the...

Question 7

Which of the following risks increases when a badteacher is grading on a curve?

Accepted Answer

The answer of Which of the following risks increases when...

Question 8

Suppose an average student gets mistakenly enrolled inan honors class in high school. In the context of atournament, which of the following risks is most likely tooccur?

Accepted Answer

The most likely risk to occur in this scenario is the ability risk. If an average student is placed in an honors class, they may not have the necessary skills or knowledge to compete with their peers. This could lead to a disadvantage in a tournament or competition. The other options (environment risk, registrar risk, and school board risk) do not have as direct of an impact on the student's ability to perform in the tournament.

Question 9

proportion of U.S. corporations evaluateemployees based upon relative performance?

Accepted Answer

The answer of proportion of U.S. corporations evaluateemployees based upon...

Question 10

a teacher grades on a curve, it increases theincentive to study, particularly when:

Accepted Answer

The answer of a teacher grades on a curve, it...

Question 11

Monetary rewards are most effective when they aresupported by:
I. intrinsic motivation
II.social status
III. promotions.

Accepted Answer

Monetary rewards are most effective when they are supported by intrinsic motivation and social status, but not necessarily promotions. Intrinsic motivation means that the individual is motivated by their own interest and enjoyment in the work itself, not just the external rewards. Social status refers to the recognition and respect given to individuals in a particular social or professional group. Promotions may be a form of external reward, but they may not always be effective in motivating individuals who are not intrinsically motivated or who do not value social status.

Question 12

is better for a ________ teacher to grade on a curvethan a ________ teacher.

Accepted Answer

A "bad" teacher might grade on a curve to adjust for their potentially ineffective teaching methods, ensuring students aren't unfairly penalized. A "good" teacher, who effectively imparts knowledge, might not need to adjust grades, as student performance would reflect their teaching.

Question 13

Grading on a curve ________ environmental risk but________ ability risk.

Accepted Answer

Grading on a curve reduces environmental risk, as it adjusts for the difficulty level of the exam and the performance of other students. However, it increases ability risk, as it can make it easier for students who lack the necessary skills and knowledge to do well in the class.

Question 14

Which of the following risks increases when a badteacher grades on an absolute scale?

Accepted Answer

The answer of Which of the following risks increases when...

Question 15

Grading on a curve reduces ________ but increases________.

Accepted Answer

The answer of Grading on a curve reduces ________ but...

Question 16

Well-structured tournaments not only encouragecompetition but also:

Accepted Answer

The answer of Well-structured tournaments not only encouragecompetition but also:
...

Question 17

Premed students (who compete for a limited number ofslots in medical schools) sometimes sabotage theexperiments of other premed students. This is anexample of:

Accepted Answer

This behavior exemplifies tournaments discouraging cooperation because premed students are in a competitive environment (like a tournament) where only a limited number of top performers are selected for medical school, leading them to engage in actions that might undermine their peers to improve their own chances.

Question 18

According to the text, how many American workerscurrently own stock in the companies they work for?

Accepted Answer

The answer of According to the text, how many American...

Question 19

Environment risk in sales can be described as:

Accepted Answer

Environmental risk in sales refers to external factors that could negatively impact sales, such as changing customer preferences, economic downturns, or product quality issues.

Question 20

order to encourage students who are concerned abouttheir GPAs to take harder classes, professors of theseclasses should:

Accepted Answer

Grading on a curve can motivate students to take harder classes because it adjusts grades based on the overall performance of the class, potentially reducing the risk of a lower GPA for taking challenging courses.

Quiz 21: Consumer Utility and Optimization