Efficiency wages are:
A. wages deliberately set above the market rate in order to increase productivity.
B. not a cause of unemployment.
C. generally a disincentive for an employee to work hard to try to keep their job.
D. All of these are true.
A. wages deliberately set above the market rate in order to increase productivity.
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Which of the following statements is inconsistent with an elastic demand curve?
A. The relative change in quantity exceeds the relative change in price. B. Total revenues fall when prices rise. C. Buyers are relatively sensitive to price changes. D. The absolute value of the price elasticity of demand is less than 1.
Which of the following is true of a progressive tax system?
A) High income households pay a higher percentage of their income as taxes. B) Low income households pay a higher percentage of their income as taxes. C) All households pay the same amount of taxes irrespective of their income. D) All households pay the same percentage of their income as taxes.
What are the objectives of government taxation and spending?
What will be an ideal response?
Decreases in the NAIRU represent a:
A) leftward shift in the aggregate demand curve. B) leftward shift of the long-run aggregate supply curve. C) rightward shift of the long-run aggregate supply curve. D) rightward shift in the aggregate demand curve.