Question

Paying an above-equilibrium wage rate might reduce unit labor costs by Multiple Choice increasing the supply of labor. 0 increasing the opportunity cost to workers of being fired for sharing 0 increasing voluntary worker turnover. permitting the firm to attract lower quality labor 0 < Prev 19 of 40 Next > 23 8 7 8

Answer 1

1. Paying an above equilibrium wage might reduce unit labor costs by increasing the opportunity cost to workers of being fired for shirking. Hence,option(B) is correct.

2. Economists would not consider money to be a productive economic resource. Hence,option(D) is correct.

3. Defined narrowly as wages and salaries , labor's share of the national income is about 70 percent. Hence,option(C) is correct.