What Term Best Refers to a Wage Payment Made to an Agent

question 29

Multiple Choice

What term best refers to a wage payment made to an agent that exceeds his opportunity cost of working and discourages the agent from shirking?

• A)Living wage
• B)Efficiency wage
• C)Minimum wage
• D)Efficiency payment
• E)Termination wage

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Definitions:

Strategic Buffer

A planned reserve or cushion integrated into strategies or plans to mitigate unforeseen changes or challenges.

Bad-News Messages

Communications designed to relay unfavorable or disappointing information to the recipient in a careful and considerate manner.

Refusing Requests

The act of declining or saying no to requests or demands made by others in a diplomatic and reasonable manner.

General Plan

A general plan outlines the overall intentions, aims, and strategies of an organization or project, providing a broad framework for detailed planning and actions.