In the Wage Setting Relation W = PeF (U, Z)

question 16

Multiple Choice

In the wage setting relation W = PeF (u, z) , the variable z includes which of the following variables?

• A) The minimum wage.
• B) The level of employment protection.
• C) The amount of structural change in the economy.
• D) Unemployment benefits.
• E) All of the above.

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Definitions:

Primacy Effect

In free recall, the tendency to recall the first items on the list more readily than those in the middle.

Recency Effect

is the tendency to remember the most recently presented information best.

Personally Relevant

Pertaining directly to or having a direct impact on an individual's personal life, interests, or situations.

Working Memory

A cognitive system responsible for temporarily holding information available for processing.