A Firm Might Offer Efficiency Wages in Order to Reduce

question 218

True/False

A firm might offer efficiency wages in order to reduce shirking.

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Definitions:

Federal Arbitration Act

A United States federal law that provides for the enforcement of arbitration agreements and governs the proceedings of arbitration in commercial disputes.

Arbitration Act of 1980

Legislation that governs the process of arbitration, a form of alternative dispute resolution, in specific jurisdictions, facilitating and regulating the settling of disputes outside the court system.

Interstate Commerce

Refers to any trade, traffic, or transportation within the U.S. that crosses state boundaries or affects more than one state.

Arbitration Clause

A clause in a contract providing that, in case of a dispute, the parties will determine their rights through arbitration rather than through the judicial system.