The theory of efficiency wages suggests that firms may pay above-equilibrium wages
a. to reduce employee turnover.
b. to prevent unions from recruiting members.
c. to reduce the need for minimum wage laws.
d. to increase the demand for better-skilled workers.
a
You might also like to view...
A government budget surplus
A) decreases a country's ability to finance domestic and foreign investment. B) increases a country's ability to finance domestic and foreign investment. C) increases a country's ability to finance domestic investment and decreases its ability to finance foreign investment. D) decreases a country's ability to finance domestic investment and increases its ability to finance foreign investment.
Which of the following refers to a natural monopoly?
a. A monopoly resulting from government control b. A monopoly resulting from economies of scale c. A monopoly resulting from output leadership d. A monopoly resulting from a large advertising budget e. A monopoly resulting from trade restrictions