The "efficiency wage" is the wage at which
A) employees have no incentive to shirk.
B) employees have an incentive to do the optimal (positive) amount of shirking.
C) the cost of looking for work is equal to the value of the leisure time for the unemployed individual.
D) there is no unemployment.
E) there is only frictional unemployment.
A
You might also like to view...
Along the elastic portion of a demand curve, the
A. change in price will always be greater than the change in quantity demanded. B. percentage change in quantity demanded will be less than the percentage change in price. C. change in price will always be less than the change in quantity demanded. D. percentage change in price will be less than the percentage change in quantity demanded.
Why do some firms use large amounts of capital and small amounts of labor while others use small amounts of capital and large amounts of labor?
What will be an ideal response?
The United States economy ______________ operates on its production possibility curve.
A. Always B. Sometimes C. Never
A technological advance... the long-run aggregate supply curve and... the short-run aggregate supply curve
What will be an ideal response?