An Efficiency Wage Is Defined as

question 23

Multiple Choice

An efficiency wage is defined as

• A) a wage above the competitive wage that elicits greater effort on the part of workers.
• B) a wage below the competitive wage that elicits greater effort on the part of the workers.
• C) any wage scheme that is accepted by the union.
• D) any wage scheme that pays different workers different wages.
• E) any wage scheme that pays all workers the same wage.

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