If a Worker Is Paid the Efficiency Wage

question 198

Multiple Choice

If a worker is paid the efficiency wage,

• A)unemployment is equal to the natural rate.
• B)the wage is below the equilibrium level.
• C)there is an excess supply of labor.
• D)the wage is equal to the equilibrium level.
• E)there is an excess demand for labor.

---

Definitions:

Job-Search Activities

Actions and efforts undertaken by individuals to find employment, including networking, applying for jobs, attending job fairs, and preparing resumes and cover letters.

Reverse Chronological

Refers to a format or order where events or records are listed starting from the most recent going back to the oldest.

Résumé

A document summarizing an individual's skills, education, and work history, used for job applications.

Behavioral Interview

An interviewing technique where candidates are asked to describe past behavior as an indicator of their future performance.