What Term Describes Resources Previously Committed to a Program That

question 26

Multiple Choice

What term describes resources previously committed to a program that make it impossible for the department to enact changes in current procedures or operational policy?

• A) sunk costs
• B) outside pressures
• C) personality characteristics
• D) past conditioning

---

Definitions:

Wage Subsidies

Direct financial support from the government to employers or employees to encourage the hiring of workers or to maintain employment levels.

Price Controls

Price Controls are governmental restrictions on the prices that can be charged for goods and services in a market, aiming to curb inflation and ensure affordability.

Binding Minimum Wage

A set wage minimum by the government that is above the equilibrium wage, leading to potential excess supply of labor, or unemployment.

Surplus Of Labor

A situation where the supply of labor exceeds the demand for labor, leading to unemployment or underemployment.