The Idea of Efficiency Wages Is That

question 10

Multiple Choice

The idea of efficiency wages is that

• A) the wages of each type of labor must be proportionate to their marginal products.
• B) the wages of each type of labor must be equal to their marginal products.
• C) firms might get greater work effort by paying above-equilibrium wage rates.
• D) workers are more diligent when paid below-equilibrium wages.

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Definitions:

Space

In computing, it refers to the amount of digital storage or memory capacity, or the blank character used in text.

Automatic Local Variables

Variables declared within a function or block, automatically allocated upon entry into the block and deallocated when exiting, with lifetimes limited to that block.

Reserved

Refers to identifiers or words in programming languages that are used by the language itself and therefore cannot be used as names by the programmer.

Automatic Variables

Automatic variables are local to the block in which they are defined and are automatically created and destroyed upon entering and exiting the block, respectively.