Question

In: Economics

1, If we know that on average 50% of unemployed persons leave unemployment each month, then...

1, If we know that on average 50% of unemployed persons leave unemployment each month, then the average duration of unemployment is:

A 2 months

B 6 months

C 2 years

D more information is needed

2,Efficiency wage theory suggests that:

A firms will be more resistant to wage increases as the labour market tightens

B the government can only set tax rates so high before people will prefer not to work

C unskilled workers will have a lower turnover rate than skilled workers

D productivity might decrease if the wage rate is too low

Solutions

Expert Solution

Answer-1 The correct option is D.) more information is needed.

Given information is not enough to find out the average duration of unemployment.

Answer-2 The correct option will be D) productivity might decrease if the wage rate is too low.

Efficiency wage theory says that increasing wages lead to increased labor productivity.It suggests that when wage rate is too low, productivity might drop down.

Rahul Sunny answered 2 years ago
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