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Critics would argue the sticky wage theory. Arguing that some employers are in a time period when they can't change wages to a hirer place therefore what may appear to be the labor market equilibrium really isn't. [ Other employers are able to move to the higher place and therefore make higher profits. Another theory is known as the bonding theory. If one place were hiring a limited number of workers at a higher price workers would want to buy that job. Something like indentured servitude, or in modern times possible delayed wages. As we discussed earlier when a job pays for workers education the worker is the one that pays in the form of lower pay. When the education is increased the pay is increased. This would suggest at the present time all wages are equal. The bonding critique, therefore, suggests that efficiency wages models would self-destruct in the long run. Unfortunately the evidence to support the bonding critique or efficiency wages is not conclusive. Others critics argue that efficiency wages causes more unemployment, because of the high wage. The result of this higher-than-equilibrium wage is a lower rate of job finding and greater unemployment. As you can see from the supply and demand diagram the efficiency wage causes a surplus of workers.
What else can I help you with?
If an unintended increase in business inventories occurs at some level of GDP then GDP?
is too high for equilibrium
What is one strategy that employers use to contribute to do business despite high wages?
replacing some of the workers with machines
What is one strategy that employers use to continue to do business despite high wages?
replacing some of the workers with machines. (by Solomon Zelman)
What is one strategy that employers us to continue to do business despite high wages?
replacing some of the workers with machines. (by Solomon Zelman)
What are some states with a low cost of living and high wages?
Some states with a low cost of living and high wages include Texas, Utah, and North Carolina. These states offer affordable housing and goods, while also providing competitive salaries for workers.
Why is the equilibrium wage high for some and low for others?
Critics would argue the sticky wage theory. Arguing that some employers are in a time period when they can't change wages to a hirer place therefore what may appear to be the labor market equilibrium really isn't. [ Other employers are able to move to the higher place and therefore make higher profits. Another theory is known as the bonding theory. If one place were hiring a limited number of workers at a higher price workers would want to buy that job. Something like indentured servitude, or in modern times possible delayed wages. As we discussed earlier when a job pays for workers education the worker is the one that pays in the form of lower pay. When the education is increased the pay is increased. This would suggest at the present time all wages are equal. The bonding critique, therefore, suggests that efficiency wages models would self-destruct in the long run. Unfortunately the evidence to support the bonding critique or efficiency wages is not conclusive. Others critics argue that efficiency wages causes more unemployment, because of the high wage. The result of this higher-than-equilibrium wage is a lower rate of job finding and greater unemployment. As you can see from the supply and demand diagram the efficiency wage causes a surplus of workers.
Some standards or hazards where workers must be trained are?
Some standards or hazards where workers must be trained are professionalism, confidentiality, and many others.
What temperature is the reaction at equilibrium?
The temperature at which a reaction reaches equilibrium can vary depending on the specific reaction and its conditions. For some reactions, the temperature at equilibrium may be higher, while for others it may be lower. The equilibrium temperature is determined by the enthalpy change of the reaction and the equilibrium constant.
What are some careers with high rates of depression?
Some careers that have very high rates of depression are the following: Nursing home/child care workers, food service staff, social workers, health care workers, artist, entertainers, writers and teachers.
If an unintended increase in business inventories occurs at some level of GDP then GDP?
is too high for equilibrium
Why are some workers paid so much and others so little?
It really depends on the job.
Which would stop hardy weinberg equillibrium from happening?
Some individuals produce more offspring than others.
Are plants high in fiber?
some are some aren't as much as others
Why some of teenager take a drugs?
some do drugs to get high others to escape.
Why do the workers of some nations have more human capital than those others nations?
Some nations invest more heavily in education and training.
How did machines changes workers lives?
Some machines had a negative effect on the lives of workers. More machinery meant less was done by hand, which meant that fewer workers were needed. Of course machinery also made some jobs easier for workers. Although some jobs went away, others were created.
What jobs do Hindus have?
Hindus have all kinds of jobs. Some have low-level jobs like fast-food worker, sewage cleaner, and check-out man. Others have high-level jobs, like ruler of a country, rocket scientist, and mathematician. Others have medium-level jobs like writer, chef, and entreupaneur (sp). Hindus have all the kinds of jobs that non-Hindus have as well.
