An efficiency wage is
A) a wage payment necessary to compensate workers for risk of injury on the job.
B) a "wage" that contains a profit-sharing component as well as traditional hourly pay.
C) an above-market wage that minimizes a firm's labor cost per unit of output.
D) a wage that automatically rises with the national index of labor productivity.
Correct Answer:
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Q53: The crowding-out effect refers to the possibility
Q54: Adherents of the traditional monetary rule advocate
Q55: Q57: Suppose laid-off workers and other qualified unemployed Q59: A higher wage could result in a Q60: New classical economists say that a fully Q60: An efficiency wage is Q61: Mainstream economists contend that, as stabilization tools, Q62: In recent years, economists holding monetarist views Q63: In 2012, the Fed
A)a below-market wage.
B)an above-market
A)discretionary
A)adopted a strict monetary
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