Which of the Following Is an Example of an Efficiency

question 12

Multiple Choice

Which of the following is an example of an efficiency wage?

• A)a higher wage paid to a more experienced worker
• B)a below-equilibrium wage paid by a small business exempt from minimum-wage laws
• C)an above-equilibrium wage paid by a firm to reduce turnover costs
• D)a wage tied to participation in a government-sponsored job training program

---

Definitions:

Socializing Agents

Individuals, groups, or institutions that play a role in integrating individuals into the norms, values, and practices of a society.

Social Environment

The cultural, social, and psychological milieu that surrounds individuals and can affect their behavior and experiences.

Thomas Theorem

The principle that situations defined as real are real in their consequences, emphasizing the social construction of reality and its influence on behavior.

Extracurricular Activities

Activities that are pursued by students outside of the standard curriculum of school or college education, encompassing sports, clubs, music, arts, and volunteer work.