Which of the Following Defines an Efficiency Wage

question 38

Multiple Choice

Which of the following defines an efficiency wage?

• A)It is the equilibrium wage rate in the labor market where the demand for labor exactly matches the supply of labor.
• B)It is an above-market wage which increases the firms' profits by increasing the productivity of all factors of production.
• C)It is an above-market wage which increases the firms' profits by lowering the costs of searching for,selecting,and training new workers.
• D)It is a below-market wage which increases the employment opportunities in an economy and reduces overall poverty.

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Definitions:

Hostile People

Individuals who display aggression, antagonism, or are confrontational in their interactions with others.

Stressors

are elements or conditions that cause stress, leading individuals to experience pressure, tension, or discomfort.

Potent Source

A highly influential or powerful factor that has a significant impact on outcomes or situations.

American Psychological Association

A leading scientific and professional organization representing psychology in the United States, dedicated to advancing the creation, communication, and application of psychological knowledge to benefit society and improve people's lives.