Which of the Following Pairs Helps Explain Why Self-Correction from a Decline

question 109

Multiple Choice

Which of the following pairs helps explain why self-correction from a decline in aggregate demand in the economy may be slow rather than rapid?

• A) theory of compensation wage differentials; theory of derived demand for labor
• B) efficiency wage theory; minimum wage laws
• C) insider-outsider theory; principle-agent problem
• D) externalities; efficiency wage theory

Understand the basic principles and standards used in determining negligence in tort law.

Recognize the significance of the reasonable person standard and its application based on individual characteristics and situations.

Identify the circumstances under which strict liability applies, and the defenses against it.

Comprehend the concept of negligence per se and how statutory violations influence negligence determinations.