One reason why the lowest wage rate is not necessarily the same as the efficiency wage is that workers might:
A. Be more productive at a higher wage rate
B. Have more incentive to shirk at higher wage rates
C. Be tempted to switch jobs more frequently at higher wage rates
D. Be less inclined to work well at a higher wage rate
A. Be more productive at a higher wage rate
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The longest economic expansion in the United States occurred during the
A) 1940s. B) 1960s. C) 1980s. D) 1990s.
Mr. Calhoun owned land on which cotton could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cotton farmers to lease his land. Which of the following best explains this change in circumstances? a. The price of cotton decreased
b. The price of cotton increased. c. The productivity of the land increased. d. Property taxes on the land increased.