Efficiency wages may cause a <u>surplus</u> of labor because they are <u>above</u> the equilibrium wage.
The efficiency wage is higher than the equilibrium wage, which might result in a labor supply.
Since the efficiency wage in question is higher than equilibrium wages, there will be a labor surplus since more individuals will be eager to work as a result of the wage rise. Due to the fact that supply is more than demand, this will result in a rise in supply and an excess of labor.
There is a labor surplus in the sense that a sizeable segment of the work force produces less than it consumes and its marginal product is below the wage agreed upon via negotiation.
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Woodrow Wilson instituted the first federal income tax since the Civil War. On June 28, l919 the Treaty of Versailles was signed, ending World War One. Wilson set out his plan for the implementation of peace in his famous Fourteen Points. An important point was an organization of nations to enforce peace.
The measure becomes a data that is compared to a basis, in which, is being compared or differentiate-- in order to analyze the psychological characteristics with the given data that has been provided, in order to know and understand the individual's result of the data,
Answer:
Norway - 0.954 the highest HDI of the country
Explanation:
A country scores a higher HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher
