Assume the Following Conditions Hold: (1) the Demand for Every

question 158

Multiple Choice

Assume the following conditions hold: (1) the demand for every type of labor is the same, (2) there are no special nonpecuniary aspects to any job, (3) all labor is ultimately homogeneous and can costlessly be trained for different types of employment, (4) all labor is mobile at zero cost. Given these conditions,

• A)wage rates will be the same in most labor markets.
• B)the demand for labor will be less in some labor markets than in others.
• C)wage rates will be the same in all labor markets.
• D)wage rates will be the same in very few labor markets.

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Definitions:

Neoteny

Process in which juvenile stages of predecessors become adult features of descendants; idea derived from the observation that more recently evolved species resemble the young of their common ancestors.

Brain Cells

Cells located in the brain, including neurons and glial cells, responsible for processing information and supporting brain function.

Genetic Diversity

The total number of genetic characteristics in the genetic makeup of a species, contributing to variations among individuals and populations.

Neoteny

The retention of juvenile features in the adult animal, a phenomenon observed in some species which results in adult individuals retaining traits typically only seen in juveniles.