Which of the Following Statements Is True

question 150

Multiple Choice

Which of the following statements is true?

• A)A person who chooses to work at a job that pays $40,000 a year instead of a job that pays $80,000 a year is considered (by economists) to be irrational.
• B)The wage rate paid in one labor market can affect the supply of labor in another labor market.
• C)The wage rate paid in one labor market can affect (albeit indirectly) the wage rate paid in another labor market.
• D)The demand for every type of labor is always the same.
• E)b and c

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Definitions:

Nominal Group Technique

a structured method for group brainstorming that encourages contributions from all members and seeks to reduce domination by a single member.

Delphi Technique

Involves generating decision-making alternatives through a series of survey questionnaires.

Formal Retreat Approach

A strategic decision-making process to withdraw from certain activities, investments, or engagements to reallocate resources more efficiently.

Formal Retreat Approach

A structured method of withdrawal from a situation, often used as a strategic decision-making process in business or conflict resolution contexts.