Job Rationing Occurs When the Real Wage Rate Is

question 45

Multiple Choice

Job rationing occurs when the real wage rate is

• A)equal to the equilibrium wage rate so there is no excess supply of labor.
• B)below the equilibrium wage rate so there is an excess supply of labor.
• C)above the equilibrium wage rate so there is a shortage of labor.
• D)above the equilibrium wage rate so there is an excess supply of labor.
• E)Both answers A and D are correct because whenever the real wage rate is above or below the equilibrium wage rate, there is an excess supply of labor.

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Definitions:

Positive Reinforcement

A technique in behavior modification that involves the introduction of a desirable stimulus after a behavior to increase the likelihood of that behavior being repeated.

Learned Helplessness

A psychological condition where an individual learns to feel powerless and unable to avoid negative situations due to previous experiences of failure to do so.

Shocks

Sudden and often violent disturbances or fluctuations in physical or emotional states, or electrical discharges used in medical therapy or experimental research.

Barriers

Obstacles or structures that impede progress, communication, or physical movement in various contexts.