In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage.
As a result, turnover and absenteeism fell. However, profits fell.
Which of the following is an example of an efficiency wage?
In which of the following situations is a firm most likely to see the largest benefits by
paying above equilibrium wages?
Economists have found that union workers earn what percent more than similar
20 to 30
0 to 10
30 to 40