Efficiency Wages Are

question 105

Multiple Choice

Efficiency wages are:

• A) wages deliberately set above the market rate in order to increase productivity.
• B) not a cause of unemployment.
• C) generally a disincentive for an employee to work hard to try to keep their job.
• D) All of these are true.

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Definitions:

Decentralization

A management strategy where decision-making powers are distributed throughout the organization rather than being concentrated in a small group or at the top level.

Authority

The right or power assigned to an individual or organization to make decisions, command, or judge.

Organization Levels

The various tiers or layers of hierarchy within an organization, categorizing employees and functions from top-level management to entry-level positions.

Staff Positions

Positions that provide technical expertise for other parts of the organization.