If firms offer an efficiency wage:
a. the quantity of labor supplied will exceed the quantity of labor demanded.
b. the quantity of labor demanded will exceed the quantity of labor supplied.
c. the quantity of labor supplied will equal the quantity of labor demanded.
d. absenteeism is expected to increase.
a
Economics
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An industry's long-run supply curve shows
A) the relationship in the long run between market price and quantity supplied. B) how the government determines the price of the product. C) how average productivity is changing. D) greater than normal profit.
Economics
Define the following terms and explain their importance to the study of macroeconomics. a. velocity b. equation of exchange c. monetarism d. automatic stabilizer
What will be an ideal response?
Economics