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IgorC [24]
4 years ago
13

When China reformed state-owned enterprises, it tried a new approach to choosing managers: it put managerial jobs up for auction

. The bids for the jobs consisted of promises of future profit streams that the managers would generate and then deliver to the state. In cases where the incumbent manager was the winning bidder, firm productivity tended to increase dramatically. When outside bidders won, there was little productivity improvement. Assume that incumbent managers and new managers had similar qualifications. True or False: This result is an example of the winner's curse.
Business
1 answer:
BartSMP [9]4 years ago
8 0

Answer:

True

Explanation:

Winner curse is a situation where the bidder win the bid in an auction that exceeds the true worth or intrinsic value of the item auctioning. In the given scenario the inside managers bid for realistic performance. The outside managers tend to bid for higher performance to get the job. They does not seem to be realistic.

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Because of the employing party's lack of control over the individual, which of these is not classified as an employee?
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Because of the employing party's lack of control over the individual, Independent contractor is not classified as an employee.

<h3>Who is an Independent contractor?</h3>

An independent contractor is an self-employed person or an organization contracted to perform work or provide services to another organization as a non-employee. As a result, independent contractors  pay their own Social Security and Medicare taxes.

In addition, legal entities using the services of an independent contractor are not required to provide them with employee benefits, such as employer-sponsored health insurance and  retirement accounts, that the legal entity may otherwise provide to its employees. Payers must correctly classify each payee as  an independent contractor or employee. Another term for an independent contractor is "freelancer."

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2 years ago
Perry, a buyer for Superior Products Company, a manufacturer of bulletin boards and other office supplies, visits a lumberyard a
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Answer:

The correct answer is letter "A": an express warranty.

Explanation:

An express warranty is an arrangement established by a buyer and a seller so that the seller is in charge of repairs of a good sold by the seller in case it presents failures under certain circumstances. The warranty covers the product for a specified time in the contract and must be written in case the purchase value of the product is higher than $15.

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3 years ago
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