Which of the following is a likely result of firms paying efficiency wages?
A. Lesser work effort
B. A lower wage rate
C. Increased job turnover
D. Reduced supervision costs
D. Reduced supervision costs
You might also like to view...
To offset the effect of households and firms deciding to hold less of their money in checking account deposits and more in currency, the Federal Reserve could
A) raise the discount rate. B) buy Treasury securities. C) raise the required reserve ratio. D) lower bank taxes.
A university must decide if it should stop offering foreign language classes. This decision involves answering the economic question of "how to produce."
Indicate whether the statement is true or false
Which of the following is NOT a common characteristic of oligopoly?
A) strategic dependence among firms in the industry B) product differentiation C) barriers to entry D) marginal cost pricing.
When the benefit of another hour of work is greater than the opportunity cost, we would expect the worker to work:
A. another hour. B. an hour less. C. exactly that amount. D. Cannot be determined without more information.