According to the Job-Rationing Explanation of Unemployment

question 13

Multiple Choice

According to the job-rationing explanation of unemployment,

• A)there is an excess supply of labor at the prevailing wage.
• B)the prevailing wage is higher than the equilibrium wage.
• C)the amount employed depends on the demand for labor at the prevailing wage.
• D)All of these
• E)None of these

---

Definitions:

Reflex-Oriented

Centered or focused on reflex actions - automatic, involuntary responses to stimuli.

Holistic Approach

Considering the whole system, including all its parts and their interactions, rather than focusing on its individual components.

Analytic Approach

The analytic approach involves breaking down complex processes or problems into simpler components for easier understanding and solving.

Renee Baillargeon

Renee Baillargeon is a renowned psychologist known for her work in the field of infant cognition, particularly her research on object permanence.