Labor Market Efficiency Requires That Each Worker Be Allocated To

question 33

Multiple Choice

Labor market efficiency requires that each worker be allocated to:

• A)the job offering the highest wage available
• B)the job offering the best fringe benefits available
• C)his or her optimal job
• D)his or her optimal job,and that each firm implements its optimal compensation package

---

Definitions:

Structural Unemployment

Unemployment caused by a mismatch between the skills of job-seekers and the needs of employers, often due to technological changes or shifts in the economy.

Customer Service

Customer Service is the assistance and advice provided by a company to those people who buy or use its products or services.

New Technology

Innovations in science, engineering, or other areas that often lead to improvements in productivity, efficiency, or quality.

Unemployment Benefits

Cash transfers to those who lose their jobs and actively seek employment.