The new $20 bills are being introduced by the U.S. Treasury primarily to diminish

According to the efficiency wage model, firms will pay the real wage that

A) maximizes workers' marginal productivity. B) maximizes the marginal productivity of capital and the marginal productivity of labor together. C) maximizes effort per dollar of real wage. D) minimizes hiring and training costs to the firm.

In which one of the following situations is the political process most likely to result in both the acceptance of efficient (productive) programs and the rejection of inefficient (counterproductive) political activities?

a. The people who benefit from a government program pay the costs of the program roughly in proportion to the benefits that each receives. b. The benefits are highly concentrated, and the costs are widespread among voters. c. The costs are highly concentrated, and the benefits are widespread among voters. d. The benefits accrue primarily in the future, while the costs are more visible during the current period.