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Which one of the following best exemplifies the

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157.Which one of the following best exemplifies the principal-agent problem in the employer-employee relationship? A. A worker takes 20 minute coffee-breaks although the employer allots only 15 minutes for this purpose. B. A worker is on the job 50 hours per week although only 40 hours are required for promotion. C. A worker opts for early retirement in response to the firm's incentive plan. D. A worker's productivity is independent of the wage paid. 158.In the context of labor markets, shirking refers to: 159.Traveling sales representative Harold Hill only calls on clients four days a week rather than the five days expected by his employer. This is an example of: 160.The idea of efficiency wages is that: 161.Paying an above-equilibrium wage rate might reduce unit labor costs by: A. permitting the firm to attract lower-quality labor. B. increasing the cost to workers of being fired for shirking. C. increasing voluntary worker turnover. D. increasing the supply of labor. 162.One implication of efficiency wages is that:
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163.Compensation paid in proportion to the number of units of personal output best describes: 164.A firm might choose to pay its employees a wage higher than that which would clear the market because:
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