To help with motivation, long-term productivity, and retention, firms with internal labor markets tend to offer all of the following except
A. benchmark competitive wages.
B. efficiency wages.
C. pay based on job seniority.
D. internally based promotion systems.
Answer: A
Economics
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If the demand curve is the same as the marginal benefit curve and the supply curve is the same as the marginal cost curve, then the quantity at which they cross is
i. the equilibrium quantity. ii. the allocatively efficient quantity. iii. the quantity with no deadweight loss. A) i, ii, and iii. B) only i. C) only ii. D) only i and ii. E) only i and iii.
Economics
Evaluate the following statement. "If marginal product is falling it will bring down the average product."
What will be an ideal response?
Economics