Efficiency wages are above-market wages that are paid to workers to keep them productive.
Answer the following statement true (T) or false (F)
True
See the definition of efficiency wages in the textbook.
You might also like to view...
How does a decrease in the tax rate on income earned on saving affect saving, investment, the interest rate, and economic growth?
What will be an ideal response?
The largest employer in the United States is
A. Ford Motor Company. B. General Motors. C. The federal government. D. Walmart.
Which of the following has been suggested as a cause of the Great Depression?
a. a decline in the money supply b. a decrease in stock prices c. the collapse of the banking system d. All of the above are correct.
One reason you go to college is to improve your employment opportunities and obtain a higher income in the future. In the context of production possibilities, this is most comparable to:
A) producing at any point on the production possibilities curve. B) producing at a point inside the production possibilities curve. C) producing relatively more consumer goods and relatively fewer capital goods. D) producing relatively more capital goods and relatively fewer consumer goods.