One reason that an efficiency wage leads to greater worker productivity is that:
A. earning more than the market wage gives workers an incentive to stay with the firm.
B. it deters workers from trying to start a union.
C. due to competition for their jobs, which are now desired, firms to pay less overall for a worker in the long run.
D. it is set right at market equilibrium which creates an efficient labor market.
C. due to competition for their jobs, which are now desired, firms to pay less overall for a worker in the long run.
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The largest component of the consumer price index is ________.
A. medical care B. transportation C. apparel D. housing
A Lorenz curve can be used to illustrate
A) the supply of labor. B) the substitution effect. C) the income effect. D) the distribution of income.
The number of live births per 1000 people in the population per year is the
(a) hidden momentum of population growth. (b) population growth rate. (c) demographic transition. (d) crude birth rate.
Government decisions about the level of taxation and public spending are called:
A. fiscal policy. B. monetary policy. C. congressional policy. D. legislative budgeting policy.