Which of the following statements is true about efficiency wages?
a. Efficiency wages reduce monitoring cost of the employer.
b. Employees benefit more from efficiency wages than employers.
c. Productivity of the employee is usually unaffected by efficiency wages.
d. Loafing is more rewarding for employees who earn efficiency wages.
A
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According to the Application, people in Morocco bring meteorites picked up in the desert to local dealers, who then sell them to the public through Websites. This process is a description of
A) a market system. B) a bureaucratic system. C) a barter economy. D) a centrally planned economy.
Which of the following directly creates growth in labor productivity?
I. Growth in capital per hour of labor II. Technological change III. Population growth A) I only B) II only C) I and II D) I and III