Use the Following Statements to Answer This Question: I

question 45

Multiple Choice

Use the following statements to answer this question: I. Efficiency wage theory was developed to help explain persistent unemployment and wage discrimination in labor markets.
II) Efficiency wage theory recognizes that labor productivity may be affected by the wage rate.

• A) I and II are true.
• B) I is true and II is false.
• C) II is true and I is false.
• D) I and II are false.

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Definitions:

Economic Influence

The impact that economic factors or conditions have on individuals, businesses, and government policy decisions.

Political Power

The ability or capacity to influence, direct, or control the behavior of people, policies, or events through authority, persuasion, or coercion.

Culture

A set of shared beliefs, norms, values, and practices that characterizes an institution, organization, or group.

Ideology

A framework of beliefs and values, particularly one shaping the foundation of political or economic theories and policies.