Multiple Choice
Efficiency wages,minimum-wage laws,and unions all keep wages
A) below the equilibrium level,causing a shortage of labor.
B) below the equilibrium level,causing a surplus of labor.
C) above the equilibrium level,causing a shortage of labor.
D) above the equilibrium level,causing a surplus of labor.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Efficiency wages create a labor<br>A)surplus and so
Q3: Efficiency wages<br>A)may increase productivity.<br>B)will increase unemployment.<br>C)may improve
Q4: Caroline is the owner of a hair-styling
Q5: Minimum-wage laws and unions are similar to
Q6: Job search<br>A)and firms paying wages above equilibrium
Q7: Efficiency wages create a<br>A)shortage of labor and
Q8: A firm may pay efficiency wages in
Q9: In which of the following situations should
Q11: Paying efficiency wages means that wages are<br>A)above
Q309: Efficiency wages<br>A)increase productivity and reduce unemployment.<br>B)increase productivity