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21) Oftentimes, companies use this method to trim their payroll responsibilities by encouraging higher paid workers with more seniority to voluntarily leave the company earlier than previously planned. A) resignation plans B) severance plans C) early retirement programs D) employee expenditure plans 22) What U.S. federal law established a national minimum wage for employees involved in commerce (rather than just those employed by companies working for the U.S. government), as well as prohibit most employment of minors in oppressive child labor? A) The Equal Pay Act of 1963 B) The Civil Rights Act of 1964 C) The Fair Labor Standards Act of 1938 D) The Family and Medical Leave Act of 1993 23) These ordered sets of jobs make it easy for compensation managers to give a clear relative value for all jobs within a company. A) externally consistent compensation systems B) internally consistent compensation systems C) market-wide consistent compensation systems D) comparably consistent compensation systems 24) What is a systematic process for gathering, documenting, and analyzing information in order to describe jobs? A) job evaluation B) internal consistency C) job analysis D) strategic analysis 25) What do compensation managers use to recognize differences in the relative net worth of jobs and to establish pay differentials based upon management priorities? A) job evaluation B) internal consistency C) job analysis D) strategic analysis 26) These compensation systems go a long way in attracting and retaining the most qualified employees and are based upon market and compensation surveys. A) internally consistent compensation systems B) market-competitive pay systems C) job evaluation compensation systems D) externally consistent compensation systems 27) Which analysis allows business professionals to determine where they currently stand in the market based on both the external market context and internal factors? A) market analysis B) comparative analysis C) 360 degree analysis D) strategic analysis 28) Which of the following represents the pay rate differences for jobs and employee contributions of unequal worth to a company? A) merit pay B) incentive pay C) retention pay D) pay structures 29) These build upon pay grades and include maximum, minimum, and mid-point pay rates for jobs in particular pay grades. A) pay ranges B) pay slopes C) piece rates D) pay determinates 30) Which of the following are stakeholders within a company? A) line managers B) executives C) unions D) all of the above

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