Efficiency Wages Create a

question 7

Multiple Choice

Efficiency wages create a

• A)shortage of labor and so reduce unemployment.
• B)shortage of labor and so raise unemployment.
• C)surplus of labor and so reduce unemployment.
• D)surplus of labor and so raise unemployment.

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Definitions:

Contingency Thinking

A management perspective that considers the outcomes of actions to vary depending on the internal and external conditions.

Human Relations

A management approach focusing on the importance of interpersonal relationships, employee needs, and morale in the workplace.

Theory Z

Describes a management framework emphasising long‐term employment and teamwork.