Suppose That the Labor Market for Life Guards Is Initially

question 368

Multiple Choice

Suppose that the labor market for life guards is initially in equilibrium. Whistles are an important safety tool that life guards use as a part of their jobs. A fire destroys the largest factory that produces whistles. What happens to the equilibrium wage and quantity of life guards?

• A)Both the equilibrium wage and quantity increase.
• B)Both the equilibrium wage and quantity decrease.
• C)The equilibrium wage increases, and the equilibrium quantity decreases.
• D)The equilibrium wage decreases, and the equilibrium quantity increases.

Differentiate May's concept of the human dilemma from Fromm's concept.

Comprehend the definition and examples of neurotic anxiety according to May.

Apply May's concepts of responsibility and authenticity to analyze personal decisions in case studies.

Compare and contrast Rogers's concept of congruency with May's concept of authenticity.

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Definitions:

Self-serving Bias

The common tendency to attribute our successes to internal factors while attributing failures to external ones.

Attribution Style

A concept in psychology that refers to how individuals explain the causes of behavior and events, often categorized into internal (dispositional) or external (situational) attributions.

Fundamental Attribution Error

A cognitive bias that involves overestimating the effect of personality and underestimating the influence of situational factors when explaining others' actions.

Weiner

Refers to Bernard Weiner, a psychologist known for his work on attribution theory, which deals with how people interpret and attribute causes to events and behaviors.