Category: Economics Mcqs

Which of the following statements about efficiency wage theory is true ?

Labour Market 21/07/2024
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A. Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities
B. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law
C. Paying the lowest possible wage is always the most efficient (Profitable)
D. Paying above the competitive equilibrium wage may improve worker health lower worker turnover improve worker quality and increase worker effort

The U.S has granted China permanent most favored nation treatment (normal trade relations) This means that the tariff schedules which apply to U.S imports from china ?

Trade Regulations And Industrial Policies 17/07/2024
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A. have tariff rates equal to zero suggesting a free trade policy for the United States
B. have lower tariff rates than the rates that apply to any other country sending goods to the United States
C. have tariff rates that are identical to the rates that apply to other countries to which the U.S grants most-favored nation treatment
D. have lower tariff rates than the rates that apply to other countries to which the U.S grants most favored nation treatment