The Theory of "Efficiency Wages" Suggests That a Pool of Involuntarily

question 86

Multiple Choice

The theory of "efficiency wages" suggests that a pool of involuntarily unemployed workers

• A)quickly disappears because perfectly-flexible wages eliminates this inefficient waste of resources.
• B)exists only between sessions of wage re-negotiation.
• C)is comprised solely of workers who have failed to meet the productivity standards of potential employers.
• D)is irrelevant to the behaviour of employed workers.
• E)provides an incentive for employees to work hard so they are not laid off.

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Definitions:

Fear of Spiders

An intense and irrational anxiety or phobia of spiders, which can cause significant distress or interference in daily activities.

Highly Memorable

Easily or likely to be remembered due to being distinctly remarkable or impressive.

Claim Lives

A term often used to indicate that something (such as a disease, disaster, or conflict) has caused deaths.

Undramatically

In a manner that is not marked by or involving dramatic, exciting, or sensational elements.