Multiple Choice
Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions
A) cause unemployment,but efficiency wages do not.
B) cause the quantity of labor supplied to exceed the quantity of labor demanded,but efficiency wages do not.
C) cause wages to be above the equilibrium level.
D) prevent firms from lowering wages in the presence of a surplus of workers.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Efficiency wages create a labor<br>A)surplus and so
Q2: Efficiency wages,minimum-wage laws,and unions all keep wages<br>A)below
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
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