An Increase in the Number of Students Graduating with a Major

question 180

Multiple Choice

An increase in the number of students graduating with a major in psychology would result in

• A) a decrease in the supply of psychologists that would increase the wage of psychologists and decrease the number employed.
• B) an increase in the supply of psychologists that would decrease the wage of psychologists and increase the number employed.
• C) a decrease in the demand for psychologists that would decrease the wage of psychologists and decrease the number employed.
• D) an increase in the demand for psychologists that would increase the wage of psychologists and increase the number employed.

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Definitions:

Product Liability

Refers to the legal responsibility of manufacturers and sellers to compensate for harm caused by defective or unsafe products.

Damages Available

The types of compensation that a plaintiff can seek in a lawsuit, depending on the circumstances and the nature of the legal claim.

Warning Defect

is a term used in product liability to describe a situation where a product lacks adequate instructions or warnings, potentially leading to misuse or harm.

Product Liability

A legal concept where manufacturers, distributors, suppliers, and retailers are held responsible for any injuries their products cause.