Give an historical example of an efficiency wage that was considered by the firm to be "one of the finest cost-cutting moves we ever made."
Henry Ford paid $5 per day to Ford Motor Company workers, a wage that greatly exceeded market wages for that time (1914).
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Use the following graph to answer the next question.
If AD1 shifts to AD2, then the equilibrium output increases from ________.
A. Q1 to Q2 while the price level rises from P1 to P2 B. Q1 to Q2 while the price level falls from P2 to P1 C. Q1 to Q3 while the price level rises from P1 to P2 D. Q1 to Q3 while the price level falls from P2 to P1
Define and give an example of how a spell of frictional unemployment can begin
What will be an ideal response?
Robert Lucas, a Nobel laureate in economics, argues that there are increasing returns to
A) knowledge capital. B) human capital. C) physical capital. D) financial capital.
Consider debt-equity swaps as an approach to debt reduction. Briefly describe how this works. State two arguments in favor of significant reliance on this strategy and two arguments against
What will be an ideal response?