With respect to efficiency wage models, the efficiency of workers depends
a. positively on the money wage they are paid.
b. positively on the real wage they are paid.
c. inversely on the age of the workers.
d. positively on the unemployment rate.
B
Economics
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In order to keep the real wage rate constant, the
A) inflation rate must be exactly one half of the expected inflation rate. B) money wage rate must increase by the same amount as the inflation rate. C) money wage rate must increase when the price level falls. D) money wage rate must decrease by the same amount as the inflation rate. E) nominal interest rate must be equal to the inflation rate.
Economics
What factors might cause the interest rates to differ? Explain
What will be an ideal response?
Economics