An Efficiency Wage Is

question 190

Multiple Choice

An efficiency wage is

• A)a wage payment necessary to compensate workers for risk of injury on the job.
• B)a "wage" that contains a profit-sharing component as well as traditional hourly pay.
• C)an above-market wage that minimizes a firm's labor cost per unit of output.
• D)a wage that automatically rises with the national index of labor productivity.

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Definitions:

Drinking Water

Water that is safe and suitable for consumption by humans and animals.

Operant Conditioning

A teaching process in which the force of a response is influenced by either encouragement or disciplinary actions.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response which is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Trial and Error

Trial and error is a fundamental method of solving problems characterized by repeated, varied attempts which are continued until success, or until the agent stops trying.