An identity is a relationship expressed in such a way that it is true by definition
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The efficiency wage is
A) lower than the market-clearing wage, to penalize shirking. B) higher than the market-clearing wage, to penalize shirking. C) lower than the market-clearing wage, to allow managers the resources to monitor shirking. D) higher than the market-clearing wage, to reward workers for informing on others who shirk. E) lower than the market-clearing wage, because of shirking done by managers.
Economics
What is meant by the term "incentives," and why are they important?
What will be an ideal response?
Economics