Which of the Following Is an Example of an Efficiency

question 321

Multiple Choice

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

• A)A high wage paid to compensate for dangerous work such as coal mining
• B)An above-equilibrium wage offered by a firm to attract a more talented pool of job applicants
• C)A wage below the minimum wage but supplemented by customer tips
• D)A high wage paid to a college graduate for a high-skill job such as electrical engineering

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Definitions:

Corporate Interests

The objectives or priorities of businesses and corporations, often focused on profit-making, market expansion, and shareholder value.

Edward Herman

An American economist, media analyst, and co-author of the "Manufacturing Consent," known for his work on media and propaganda.

Normalizes Inequality

The process by which societal norms and practices make disparities in income, wealth, and power seem natural or unavoidable.

Mass Media

The various forms of media that reach large audiences via broadcasting, publishing, and the Internet, used to disseminate information or entertainment.