Refer to the Graph Shown

question 78

Multiple Choice

Refer to the graph shown. If government establishes a price floor of $7.25 per hour, there will be a:

• A) shortage of 400 labor hours.
• B) surplus of 400 labor hours.
• C) shortage of 300 labor hours.
• D) surplus of 300 labor hours.

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Definitions:

Conscientiousness

A personality trait characterized by organization, dependability, and a strong sense of duty.

Big Five

A model describing human personality through five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality

The combination of emotional, attitudinal, and behavioral response patterns of an individual that are relatively stable over time.

Big Five

A model postulating five core dimensions of personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.