Why Is Efficiency Desirable

question 377

Multiple Choice

Why is efficiency desirable?

• A) It results in an equal distribution of income.
• B) It results in the highest prices for the goods and services produced.
• C) It makes best use of the available resources.
• D) It is the most politically popular solution.

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Definitions:

Fair Labor Standards Act

A U.S. law that sets minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.

Regular Hourly Wage

Regular Hourly Wage is the fixed amount of money that an employee is paid for each hour worked, excluding overtime or bonuses.

Gross Wages

The total amount of money earned by an employee before any deductions or taxes are applied.

Salaries And Wages Expense

The total amount recorded by a business for the compensation of employees, including both salaries and hourly wages.