Asked by
Aaliyah Francois
on Nov 06, 2024
Verified
Which of the following statements is true of efficiency wages?
A) They lead to a decrease in the average market wage rate.
B) They are offered to attract the best employees.
C) They are higher for jobs with low demand.
D) They result in an increase in employee turnover.
Efficiency Wages
The theory that employers may pay wages above the market rate to increase worker productivity, reduce turnover, and encourage loyalty.
Employee Turnover
The rate at which employees leave a workforce and are replaced by new employees.
- Understand the concept of efficiency wages and their effects on employee attraction and turnover.
Verified Answer
MR
Learning Objectives
- Understand the concept of efficiency wages and their effects on employee attraction and turnover.