An Efficiency Wage Is

question 194

Multiple Choice

An efficiency wage is

• A) a wage payment necessary to compensate workers for risk of injury on the job.
• B) a "wage" that contains a profit-sharing component as well as traditional hourly pay.
• C) an above-market wage that minimizes a firm's labor cost per unit of output.
• D) a wage that automatically rises with the national index of labor productivity.

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Definitions:

Universally Accepted

Widely recognized or approved by all parties or societies.

Rapport

A positive relationship marked by mutual understanding and trust between individuals or groups.

Verbalizing Concerns

The act of expressing worries, fears, or anxieties using spoken words in order to address and manage them effectively.

Furthering Responses

Techniques used in communication to encourage deeper discussion or elaboration on a topic.