True or False questions 11. After taking inflation into account, the purchasing power of the minimum...

True or False questions

11. After taking inflation into account, the purchasing power of the minimum wage was constant from 1970 to the present.

12. Job ladders have gotten longer in recent years as a bureaucratic hierarchy has increased.

13. Henry Ford paid workers $5 a day and granted them considerable job security through seniority rights because he wanted to attract the best workers to his factories.

14. The "new economy" is simply a shorthand way of saying that there is now more disposable income than there was in the past.

15. People who cant work suffer a diminished sense of self-worth, along with a loss of income, and if unemployment is lengthy, it can breed psychological depression.

Expert Solution

11. False, inflation was high at present since 1970 but the disposable income has risen over the past decades.

12 True, the hierarchy in organisations have increased the recent years leading to the longer career ladder.

13 False, seniority is a basis of promotion where efficiency should be the parameter to attract best workers.

14 True, the disposable income in the present economy has risen.

15 True, unemployment have direct as well as indirect impact on a person leading to mental and financial degradation.

keosha answered 2 years ago

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