Classical Economists Used Efficiency Wage Models to Support Their Belief

question 58

True/False

Classical economists used efficiency wage models to support their belief in a self-regulating economy.

---

Definitions:

Startups

Newly established businesses, typically small, that aim to meet a marketplace need by developing a viable business model around a product, service, process, or platform.

Borrowing Money

The act of obtaining funds from an individual, bank, or financial institution to be repaid over time, often with interest.

Business Properties

Assets owned by a business, including physical locations, intellectual property, and tangible assets.

High-Technology

Pertaining to the most recent and advanced technology available, especially in the fields of electronics and computing.