Anything That Makes the Efficiency Wage Rise Relative to the Market-Clearing

question 148

Multiple Choice

Anything that makes the efficiency wage rise relative to the market-clearing wage will

• A)increase both the quantity demanded and the quantity supplied of labor.
• B)decrease both the quantity demanded and the quantity supplied of labor.
• C)increase the quantity demanded and decrease the quantity supplied of labor.
• D)decrease the quantity demanded and increase the quantity supplied of labor.

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Definitions:

PLC

Stands for Programmable Logic Controller, a digital computer used for automation of industrial processes, such as control of machinery on factory assembly lines.

External Input

Any input signal or data received from an outside source, device, or system, which is used to influence operations or responses within a system.

Latch

An electronic circuit or mechanism that retains its output state until a specific input signal is received.

Unlatch

A term used in programmable logic control programming that refers to a command or instruction to turn off or reset a previously set (latched) condition.