Macroeconomics
How does opportunity cost influence a worker's decision to stay in a job with an efficiency wage?
Why might an employer choose to pay efficiency wages?
How do minimum wage laws impact unemployment and living wages?
How do minimum wage laws and efficiency wages differently affect unemployment?
What happens to the labor market when the minimum wage is set above the equilibrium wage?
What is the difference in unemployment effects between minimum wage laws and efficiency wages?
What is an efficiency wage?
What is the effect of efficiency wages on worker turnover and quality?
How does opportunity cost affect a worker's decision to remain in a job with an efficiency wage?
How do efficiency wages decrease worker turnover and improve worker quality?