How might efficiency wages contribute to downward wage

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Why might one person work more, earn more, and pay more income tax when his or her tax rate is cut, while another person will work less, earn less, and pay less income tax under the same circumstance. How might payment of an above market wage reduce shrinking by employees and reduce worker turnover? How might efficiency wages contribute to downward wage inflexibility, at least for a time, when aggregate demand declines.

Reference no: EM13159718

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