Assuming That Labor Is the Only Variable Input, If Society

question 57

Multiple Choice

Assuming that labor is the only variable input, if society values a good ________ it costs firms to hire the workers to produce that good, the good ________ be produced.

• A) equal to what; will not
• B) less than; will
• C) more than; will not
• D) less than; will not

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Definitions:

Conscientiousness

A personality trait characterized by thoroughness, caution, and the tendency to strive for achievement, self-discipline, and dutifulness.

Motivational Trait

Personal characteristics that influence an individual’s tendency to pursue goals with energy and persistence.

Emotional Stability

A personality trait characterized by the consistency of one's emotional state and the ability to remain calm and composed under stress.

Core Self-evaluations

A broad personality concept that consists of more specific traits like self-esteem, generalized self-efficacy, locus of control, and emotional stability.