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johnpaul92 johnpaul92
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8 years ago
The efficiency wage model can be modified to allow real wages to vary over the business cycle by assuming that
A) during a recession, labor supply will decrease, reducing the efficiency wage.
B) during a boom, labor demand will increase, causing the efficiency wage to rise.
C) workers' effort may depend on the unemployment rate and the real wage.
D) during a recession, productivity will fall, causing a reduction in the efficiency 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
Appreciate your help, thank you again
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