When Productivity Increases,businesses Can Pay Higher Wages Without Boosting Inflation

question 12

True/False

When productivity increases,businesses can pay higher wages without boosting inflation.

---

Definitions:

Tenure

A status granted to an employee, usually after a specific period of service, indicating a permanent position or a guarantee of employment.

Competencies

A mix of knowledge, skills, behaviors, and attitudes that a person needs to be effective in a wide range of jobs and various types of organizations.

Performance

The act of carrying out a task or the level of efficiency and effectiveness with which it is executed.

Skill-Based Pay

A compensation system that determines pay levels based on the skills or proficiency levels employees achieve.