A successful compensation scheme
A) must induce effort from workers and ensure that both employer and employees benefit.
B) must allow employees to participate in a firm's profits.
C) must pay workers with comparable skills a comparable wage.
D) must enable workers to enjoy a certain standard of living and must enable employers to earn a normal rate of return.
A
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Absolute advantage is determined by comparing the opportunity costs of producing each good in different countries
a. True b. False Indicate whether the statement is true or false
Economists argue that the union wage advantage
A) has been estimated to be 100% in the private sector. B) in the private sector is a 4% increase in wages for union workers over nonunion workers. C) reached its height in 2000 in the private sector. D) has been close to zero since World War II in the private sector.