Whats the Appropriate Year of the Occurrence

question 8

Short Answer

Whats the appropriate year of the occurrence?
-Congress passed a federal law creating the Occupational Safety and Health Administration

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Definitions:

Efficiency Wage

A higher-than-market wage paid by employers to increase productivity and efficiency among workers by motivating them and reducing turnover.

Market-clearing Wage

The pay rate where the amount of labor offered matches the amount of labor required.

Electronic Devices

Gadgets and equipment that operate by controlling the flow of electrons or other electrically charged particles.

Efficiency Wage Model

A theory suggesting that higher wages lead to increased productivity by attracting higher quality workers and motivating all workers to avoid being fired.