Which of the following statements would proponents of the efficiency wage model be most likely to make to support their cause?
a. Happier workers are more intelligent and therefore require less training.
b. Happier workers are more loyal, so the cost of training new employees is minimal.
c. Happier workers demand fewer benefits such as higher wages and better training.
d. Happier workers are less likely to join unions, which usually require employer-
provided training.
b. Happier workers are more loyal, so the cost of training new employees is minimal.
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Hector's wealth is zero, he expects to work for another 45 years at a constant salary of $80,000 and live for another 60 years. Yearly taxes are $20,000, and Hector received a one-time tax rebate of $5,000 during his first year of work
If Hector completely smooths consumption over his lifetime, his annual consumption is A) $37,516.67. B) $44,916.67. C) $45,083.33. D) $60,111.11.
Maximizing the benefits of a transaction made under a contract often requires specific investments that lose value if the parties fail to fulfill their commitments
Indicate whether the statement is true or false