1) This puts a lid on maximum pay level an employer can set orm. a) Service demand b) Product demand c) Market demand d) Supplier demand 2) This is the additional output associated with employment of one additional human resources unit, with other production factors held constant a) Marginal revenue of labor b) Marginal product of labor c) Marginal level of supply d) Marginal revenue of demand 3) Find the odd man out (One answer only) a) Compliance b) Security c) Fairness d) Efficiency 4) This avoids placing an employer at a disadvantage in pricing products or in maintaining a qualified work force a) Lag Policy b) Pay with Competition (Match) c) Lead Policy d) Flexible Policies 5) This maximizes the ability to attract and retain quality employees and minimizes employee dissatisfaction with pay a) Lead Policy b) Lag Policy c) Flexible Policies d) Pay with Competition 6) This refers to the average of the array of rates paid by an employer a) Compensation b) Pay Level c) Compliance d) Pay forms 7) This is the mix of the various types of payments that make up total compensation. a) Pay Level b) Salary c) Pay forms d) Market Match 8) This refers to the provisions of prevailing wage laws and equal rights legislation must be met. In addition to pay levels, various pay forms are also regulated. a) Compliance b) Fairness c) Efficiency d) Security 9) What are the three factors that shapes external competitiveness? a) Consumer Market Factors b) Labor Market Factors c) Employee Market Factors d) Product Market Factors e) Organization Factors 10) This refers to the pay relationships among organizations - the organization’s pay relative to its competitor a) Pay level b) Pay form c) External Competitiveness d) Lag Policy

EXTERNAL COMPETITIVENESS: Determing the Pay Level

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