The Insider-Outsider Model Refers to

question 6

Multiple Choice

The insider-outsider model refers to

• A)policy making in White House
• B)the fact that the unemployed do not take part in collective bargaining
• C)the fact that wages do not respond significantly to changes in the unemployment rate
• D)slow price adjustments in an imperfectly competitive business environment
• E)both B and C

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Definitions:

Risk-Taking

The willingness to engage in behaviors or decisions that entail potential losses or failure in pursuit of potential gains.

Electronic Communication

The transmission of information using electronic media such as email, text messaging, and social networking sites.

Risk-Seeking

A tendency to pursue opportunities with potentially high rewards despite the associated high risks.

Tacit Knowledge

Knowledge that is difficult to transfer to another person by means of writing it down or verbalizing it, often gained through personal experience.