Which of the following will have a downward impact on efficiency wages?
a. Low monitoring costs
b. Excess supply in the labor market
c. High equilibrium wage rate
d. Excess demand in the labor market
A
Economics
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Assume a price floor is imposed at the current equilibrium price in the market for lettuce. If the demand for lettuce then increases: a. a surplus of lettuce will be created
b. a shortage of lettuce will be created. c. the quantity of lettuce traded remains the same. d. the quantity of lettuce supplied will increase.
Economics
Unemployment that results from an economy-wide downturn is called: a. frictional unemployment. b. cyclical unemployment
c. structural unemployment. d. seasonal unemployment.
Economics