Question

an efficiency wage is a: system of tying wage rates to overall factory efficiency rather than personal productivity. higher wage paid to encourage greater worker productivity. wage that rises when workers invest in their human capital. higher wage paid to reward workers who show greater productivity.

Answer 1

An efficiency wage is a higher wage paid to reward workers who show greater productivity. Option D is correct.

What is the Efficiency wage?

Wages provided to employees over the minimum wage in order to retain a trained and efficient staff are referred to as efficiency wages. Adam Smith defined a type of pay disparity in the 18th century, in which workers in some businesses are paid more than others based on the level of trustworthiness necessary.

Employers establish efficiency salaries above the equilibrium wage rate as an incentive for better employee performance. An efficiency wage is a higher wage provided to employees who are more productive.

Therefore, option D is correct.

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