The costs of recruiting new employees, training the new employees, and suffering the initial low productivity of new employees when old employees leave are called
A. benchmark wages.
B. efficiency wages.
C. turnover costs.
D. marginal costs of long-term training.
Answer: C
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A good with a horizontal demand curve has a demand
A) with an income elasticity of demand equal to 0. B) with a price elasticity of demand equal to 0. C) with a price elasticity of demand equal to infinity. D) for which there are no substitutes.
How might openness to the global economy influence the debate between policy activists and nonactivists?
What will be an ideal response?
Which of the following would lead to a short-run market surplus for tomatoes?
A) The price of tomatoes increases. B) A new government study shows that tomatoes have a greater risk of contamination from salmonella. C) An increase in the price of potatoes. D) A decrease in the number of tomato growers.
A local restaurant offers "early bird" price discounts for dinners ordered from 4:30 to 6:30 PM. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above