Efficiency-wage theory suggests that paying
a. low wages might be profitable because they raise the efficiency of a firm's workers.
b. low wages might be profitable because they lower the efficiency of a firm's workers.
c. high wages might be profitable because they raise the efficiency of a firm's workers.
d. high wages might be profitable because they lower the efficiency of a firm's workers.
c
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Indicate whether the statement is true or false
The simple median voter model is unbiased with respect to special interests
a. True b. False
The large U.S. government budget deficits in the early 1980s were caused by
a. wasteful military spending b. declining transfer payments triggered by more expenditures on education and training c. President Reagan's attitude toward deficits d. a recession, expanded military spending, and income tax cuts e. recessionary gaps in GDP
Forward and backward linkages apply to which of the following development strategies?
a. big-push development b. government sponsored development c. direct foreign intervention d. unbalanced development e. balanced development