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johnpaul92 johnpaul92
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8 years ago
In the efficiency wage model, if the real wage is higher than the market-clearing wage so that there is an excess supply of labor,
A) firms will hire new workers at lower wages.
B) firms will demand a higher level of effort from existing employees.
C) firms will replace high-paid workers with low-paid, formerly unemployed workers.
D) employers will not hire workers who are willing to work for a lower wage.
Textbook 
Macroeconomics

Macroeconomics


Edition: 8th
Authors:
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supamansupaman
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8 years ago
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johnpaul92 Author
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#2
8 years ago
Wow, you answered what I thought was impossible to answer, thank you!
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