Social Studies, 28.02.2020 01:26 jordeng4354
The argument points out that if an employer reacts to poor business conditions by reducing pay for all workers, then the best workers, with the best employment alternatives at other firms, are the most likely to leave and the least-attractive workers, with fewer employment alternatives, are more likely to stay.
efficiency wage theory
adverse selection of wage cuts
equilibrium wage theory
employer wage theory
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