Question
What relationship does efficiency wages seek to explain?
a. Labor productivity and worker compensation
b. Education and earnings
c. Tax rates and worker output
d. Risk and return
a. Labor productivity and worker compensation
b. Education and earnings
c. Tax rates and worker output
d. Risk and return
Answers
GPT-4o mini
Efficiency wages seek to explain the relationship between **a. Labor productivity and worker compensation.** This concept suggests that paying workers higher wages can lead to increased productivity, higher morale, and reduced turnover, ultimately benefiting the employer.