In 1914, Ford Motor Company doubled its wage to $5 per day, a rate that was considerably
Question:
a. In terms of efficiency wages, explain why Ford would have had an incentive to do this.
b. What data would you look for to determine whether Ford’s wage increase was successful in achieving its goals?
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a Higher wages reduce turnover and absente...View the full answer
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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