In the Recent Survey by the National Association of College

question 7

Multiple Choice

In the recent survey by the National Association of College Employees, which of the following criteria for job decisions ranked highest by college graduates?

• A) "Enjoying what I do"
• B) "Good Benefits packages"
• C) "High starting salary"
• D) "Location of the job"

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Definitions:

Labor Contracts

Agreements between employers and employees or unions that define terms of employment, salaries, benefits, and working conditions.

Short-run Phillips Curve

A graphical representation showing the inverse relationship between unemployment rates and inflation rates in the short-term.

Per-capita Income

The average income earned per person in a certain area, calculated by dividing the area's total income by its total population.

Rational Expectations School

An economic idea that assumes individuals make predictions about the future based on all available information and past experiences in a rational manner.