An efficiency wage is one that:
A. Increases the velocity of money
B. Minimizes the firm's labor cost per unit of output
C. Results from significant changes in technology and labor
D. Is imposed by government to guarantee workers a living wage
B. Minimizes the firm's labor cost per unit of output
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Why do people and firms in the United States supply dollars to the foreign exchange market?
What will be an ideal response?
A typical professional National Football League team has three quarterbacks on its roster. What is one reason why they might not have a fourth quarterback?
A) The fourth quarterback's marginal product is approximately zero. B) The fourth quarterback's marginal product is approximately ten. C) The fourth quarterback's marginal product is less than the first quarterback's marginal product. D) There is a law against carrying four quarterbacks on a team.
Since a tax imposed on buyers of a product only affects demand, such a tax has no impact on sellers in that market
a. True b. False Indicate whether the statement is true or false
Market-based regulations tend to work best with pollutants that
a. Are non-uniformly mixed and local in effect b. Have threshold effects c. Are uniformly mixed and regional in effect d. Cause non-point source pollution e. Have non-linear and local effects