Which of the Following Statements Is True of Efficiency Wages

They are offered to attract the best employees. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law.

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Keynes believed an economy could get stuck in a recessionary gap.

. They are offered to attract the best employees. Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities B. It is the wage rate determined by the employer and not by the market forces of demand and supply.

They lead to a decrease in the average market wage rate. Keynes originated the idea of efficiency wages. The efficiency wage rate will be higher than the market clearing equilibrium wage rate.

Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities. An efficiency wage is a wage that automatically rises with the national index of labor productivity. They lead to a decrease in the average market wage rate.

B Efficiency wages discourage shirking because they create an excess supply of labour so a shirking worker who was dismissed might face a lengthy period of unemployment. Which of the following statements is true of efficiency wages. A Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law.

D A higher wage can raise profits if productivity is directly proportional to wages. 39 Which of the following statements on the theory of efficiency wages is true. C Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities.

A A higher wage can reduce the quantity supplied of labor. The normal rate of unemployment around which the unemployment rate fluctuates. Above-equilibrium wages paid by firms in order to increase worker productivity.

Question 2 1 out of 1 points Which of the following statements is true of efficiency wages. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law C. B and c ANSWER.

Some firms try to attract the best employees they can and will pay more than the going market rate to attract them. Which of the following statements about efficiency wage theory is true. Paying the lowest possible wage is always the most efficient Profitable.

A firms cannot choose between paying or not paying efficiency wages because they are determined by lawb paying the lowest possible wages is always the most profitable strategy. Paying above the competitive equilibrium wage may improve worker health lower worker turnover improve quality and increase worker effort. 39 which of the following statements on the theory of.

Which of the following statements is true. An efficiency wage is a wage payment necessary to. C paying wages above the wage equilibrium increases.

B Paying the lowest possible wage is always the most efficient profitable. C A higher wage can raise profits if productivity of workers is fixed. They are higher for jobs with low demand.

They result in an increase in employee turnover. Keynes believed wages are inflexible downward but prices of goods and services are flexible. The theory of efficiency wages.

C The no shirking constraint curve shows the number of non-shirkers who could be hired at each wage. The efficiency wages are determined on the basis of the efficiency and productivity of the labor. A Efficiency wages are paid only to discourage shirking.

They are offered to attract the best employees. 4 rows Which of the following statements about efficiency wage theory is true. Which of the following statements is true.

According to this figure. Natural rate of unemployment. Which of the following statements about efficiency wages is false.

An efficiency wage is an above-market wage that minimizes a firms labor cost per unit of output. Along the isocost line tangent to the best response curve doubling of the per-hour effort from 045 to 090 would lead to. Which of the following statements is true.

Which of the following statements is true of efficiency wages. They are offered to attract the best employees. Figure 66 depicts the efficiency wage equilibrium of a worker and a firm.

Keynes believed the economy is self-regulating. Efficiency wages are paid only to discourage shirking Efficiency wages discourage shirking because they create an excess supply of labour so a shirking worker who was dismissed might face a. Which of the following statements about efficiency wage theory is true.

- worker health - worker turnover. Which of the following statements about efficiency wage theory is true. Paying the lowest possible wage is always the.

B A higher wage can increase the quantity demanded of labor. An efficiency wage is a wage that contains a profit-sharing component as well as traditional hourly pay.

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