According to the Job-Rationing Explanation of Unemployment

question 147

Multiple Choice

According to the job-rationing explanation of unemployment,

• A)the amount employed depends on the supply of labor.
• B)the actual wage is less than the equilibrium wage.
• C)the amount employed depends on the demand for labor.
• D)the demand for labor is greater than the equilibrium amount.
• E)the supply of labor is less than the demand for labor.

---

Definitions:

Multiple Logistic Regression

A statistical technique used to model the probability of a certain class or event existing such as pass/fail, win/lose, alive/dead, based on multiple independent variables.

Explanatory Variables

Variables in a statistical model that are manipulated or chosen to determine their effect on the response variables of interest.

Logistic Regression

A statistical method for predicting binary outcomes by modeling the probability of a variable based on its logarithm.

Logistic Regression Model

A statistical method used for analyzing a dataset in which there are one or more independent variables that determine an outcome. The outcome is measured with a dichotomous variable (where there are only two possible outcomes).