1. Paying an efficiency wage is efficient for some employers because A it is the lowest...

1. Paying an efficiency wage is efficient for some employers because

A it is the lowest wage that an employer is allowed to pay.

B. the high efficiency wage encourages work effort and reduces shirking.

C. the efficiency wage will reward workers based on how many units they produce.

D. the efficiency wage is the market clearing wage.

2. Henry Ford increased the productivity of his workers and reduced absenteeism by paying

A. piece rates.

B. efficiency wages.

C. tournament bonuses.

D. delayed compensation.

Expert Solution

Answer 1

B. the high efficiency wage encourages work effort and reduces shirking.

efficient wages helps in encouraging work of employees reduce shrinking and attract productive employees

Answer 2

B. efficiency wages.

There is vivid evidence that the introduction of the five-dollar day resulted in substantial queues for Ford jobs. Critical increments in Ford profitability and benefits went with the new routine. Therefore other options are wrong

Rahul Sunny answered 2 years ago

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