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    Principles of Economics Study Set 8
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    Exam 28: Unemployment and Its Natural Rate
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    In 1914, Henry Ford Began Paying His Workers $5 Per
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In 1914, Henry Ford Began Paying His Workers $5 Per

Question 182

Question 182

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In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

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