Which of the Following Explanations Argues That the Labor Market

question 59

Multiple Choice

Which of the following explanations argues that the labor market is never in a state of rest?

• A)The stochastic-worker explanation
• B)The job-search explanation
• C)The minimum-wage explanation
• D)The efficiency-wage explanation
• E)The insider-outsider explanation

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Definitions:

Tires

Rubber coverings placed around wheels to provide traction, support the vehicle's load, and absorb shocks from the road surface.

Absolute Advantage

A condition where a country, individual, or company can produce a good or service at a lower cost in terms of labor and resources than competitors.

Comparative Advantage

An economic theory stating that in order to gain from trade, countries should specialize in producing goods for which they have a lower opportunity cost.

Computers

Electronic devices capable of processing, storing, and retrieving data, widely used for work, education, and entertainment.