Econ Final
Econ Final ________ increase workers' productivity and improve the profitability of a firm. A. Wage ceilings B. Wage floors C. Productivity wages D. Efficiency wagesqualified answersD. Efficiency wages ________ is likely to result in an increase in the total efficiency units of labor in the economy. A. An increase in the years of schooling of each worker in an economy B. A decrease in the labor force participation rate in an economy C. A decrease in the capital-labor ratio in an economy D. An increase in the unemployment rate in an economyqualified answersA. An increase in the years of schooling of each worker in an economy ________ is the market value of the final goods and services produced in a country during a particular period of time. A. GNP B. GDP C. Total product D. Net product valuequalified answersB. GDP ________ keeps the market wage above the level that would clear the labor market. A. Wage fluctuation B. Wage stability C. Wage discrimination D. Wage rigidityqualified answersD. Wage rigidity 10 percent of the total food grains produced in a country during a year gets damaged due to poor storage. Which of the following will happen in this case? A. The country's trade surplus will increase. B. The market value of the damaged food gr
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