In the efficiency wage model,an increase in productivity will cause
A) no change in the real wage.
B) an increase in the real wage.
C) a decrease in the real wage.
D) an increase in both the real wage and the level of employment.
Correct Answer:
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Q4: According to the efficiency wage model,firms will
Q5: In the Keynesian model with efficiency wages
A)the
Q6: In the Keynesian model,the full-employment level of
Q7: In the efficiency wage model with the
Q8: Real-wage rigidity in the Keynesian efficiency wage
Q10: In the efficiency wage model,if the real
Q11: Assuming no change in the effort curve
Q12: In the Keynesian model,the real wage is
Q13: A model in which workers won't be
Q14: Keynesians are skeptical of the classical theory
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