3. According to the theory of efficiency wages, paying an above-equilibrium wage may increase all the following

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3. According to the theory of efficiency wages, paying an above-equilibrium wage may increase all the following except

a. the natural rate of unemployment.

b. worker turnover.

c. worker effort.

d. the quality of a firm’s workforce.

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Macroeconomics

ISBN: 9781319263904

11th Edition

Authors: N. Gregory Mankiw

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