According to Efficiency Wage Models,labor Productivity Depends on

question 132

Multiple Choice

According to efficiency wage models,labor productivity depends on

• A) the number of employees at a firm; the smaller the number of employees,the more productive each employee is.
• B) the amount of capital that employees have to work with.
• C) the wage rate the firm pays its employees; a cut in wages can cause labor productivity to decline.
• D) whether or not the economy is currently producing Natural Real GDP.
• E) none of the above

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Definitions:

J.A.Hobson

An English economist and social scientist best known for his critique of imperialism and his theory on the economic roots of imperialism.

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An economic system characterized by private or corporate ownership of capital goods, production for profit, and the predominance of industrial manufacturing and finance.

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The policy of extending a country's power and influence through colonization, use of military force, or other means, particularly by European nations from the 16th to the 20th century.