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Unemployment: Minimum Wage Laws and Efficiency Wages
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Problem 10
Unemployment: Minimum Wage Laws and Efficiency Wages
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11. Unemployment and Inflation / Unemployment: Minimum Wage Laws and Efficiency Wages / Problem 10
Problem 10
How do efficiency wages decrease worker turnover and improve worker quality?
A
By offering lower wages than competitors.
B
By reducing training costs.
C
By increasing the number of working hours.
D
By providing higher wages, reducing the incentive to leave.
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