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

Comprehend and apply marginal and conditional probability concepts in determining distributions.

Perform direct calculations with probability distributions to find the probability of specific outcomes.

Apply probability theory to real-world scenarios to analyze and solve problems.

Identify and utilize joint probability distributions in the analysis of two variables.

---

Definitions:

Agency Responsibilities

Duties and powers entrusted to an agent or agency acting on behalf of another person or entity, known as the principal.

Constructive Dismissal

A situation where an employee resigns due to the employer's conduct creating an intolerable work environment, effectively being forced out.

Fiduciary Duty

An obligation to act in the best interest of another party, usually in financial or trust relationships.

Utmost Good Faith

A duty to act in the best interests of another; such duty may arise between directors and officers and the corporation they serve, between business associates including senior employees and their employer, between agents and their principals, and between partners; also called fiduciary duty.