Which theory explains the fact that some firms may choose to pay their employees more then they would earn as determined by equilibrium in the labor market?
a. the theory of efficiency wages
b. the marginal-productivity theory
c. human-capital theory
d. signaling theory
a
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From the early 1980's through the 1990's, the nominal interest rate
a. fell because the Fed got inflation under control. b. fell because the Fed let inflation get out of control. c. rose because the Fed got inflation under control. d. rose because the Fed let inflation get out of control.
President George W. Bush and congress cut taxes and raised government expenditures in 2003 . According to the aggregate supply and aggregate demand model
a. both the tax cut and the increase in government expenditures would tend to increase output. b. only the tax cut would tend to increase output. c. only the increase in government expenditures would tend to increase output. d. neither the tax cut nor the increase in government expenditures would tend to increase output.