An Efficiency Wage Is

question 69

Multiple Choice

An efficiency wage is

• A)lower than a living wage.
• B)unfair to employers.
• C)a wage rate above the employees' opportunity cost.
• D)unlikely to be paid when monitoring is available.

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Definitions:

Nonshared Environment

pertains to the unique environmental factors that contribute to the differences between individuals, particularly siblings, in the same family.

Social-economic Status

A combined measure of an individual's or family's economic and social position relative to others, based on income, education, and occupation.

Parenting Styles

Various patterns of behavior and strategies that parents use to raise their children, including authoritative, authoritarian, permissive, and neglectful types.

Heritability Statistic

A measure in genetics that indicates how much of a trait's variation within a population can be attributed to genetic differences.