What is an efficiency wage? How might payment of an above-market wage reduce shirking by employees and

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What is an efficiency wage? How might payment of an above-market wage reduce shirking by employees and reduce worker turnover? How might efficiency wages contribute to downward wage inflexibility, at least for a time, when aggregate demand declines?

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Macroeconomics

ISBN: 9781108458856

17th Edition

Authors: Campbell McConnell, Stanley Brue

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