
Efficiency Wages and Labor Market Effects
Interactive Video
•
Business, Social Studies, Economics
•
10th - 12th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is structural unemployment primarily caused by?
Seasonal changes in employment
A lack of skills among workers
A surplus of labor supply over demand
Technological advancements
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do minimum wage laws contribute to unemployment?
By encouraging more people to enter the workforce
By setting wages below the equilibrium level
By increasing the demand for labor
By preventing wages from reaching equilibrium
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary effect of labor unions on wages?
They decrease wages to match market levels
They increase wages above the market clearing level
They have no effect on wages
They ensure wages are equal across all industries
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are labor unions not a major source of unemployment in the U.S.?
Most workers are in unions
Unions negotiate lower wages
Most workers can find non-union jobs
Unions are banned in the U.S.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of efficiency wages?
To decrease worker effort
To match the market clearing wage
To increase worker productivity
To reduce the cost of labor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can efficiency wages reduce worker turnover?
By offering higher wages than the market rate
By increasing the cost of hiring new workers
By paying workers less than their next best alternative
By making jobs less attractive
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one reason firms might pay efficiency wages?
To deter shirking and increase effort
To attract lower quality workers
To decrease worker productivity
To increase the number of sick days
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