Unemployment: Minimum Wage Laws and Efficiency Wages

11. Unemployment and Inflation / Unemployment: Minimum Wage Laws and Efficiency Wages / 문제 7

문제 7

What is an efficiency wage?

A wage set below the equilibrium to reduce costs.

A wage equal to the equilibrium to maintain market balance.

A wage determined by government policy.

A wage set above the equilibrium to increase worker efficiency.