Each of the Following Statements About Occupational Market Conditions Is

question 62

Multiple Choice

Each of the following statements about occupational market conditions is true except that

• A)HRDC forecasts are useful for determining whether any projected imbalances will be self-correcting.
• B)in recent years, there has been an undersupply of nurses.
• C)HRDC is a good source of information on occupational demand and supply.
• D)organizations generally want to forecast the availability of potential candidates in specific occupations.
• E)in recent years, there has been an oversupply of IT specialists.

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Definitions:

Own Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its own price.

Rent Controls

Government-imposed limits on the amount landlords can charge for leasing property, aimed at making housing more affordable for renters.

Rental Homes

Properties that owners lease to tenants for a predetermined rent and period.

Support Price

A price level set by the government or a regulatory body to ensure that producers receive a minimum price for their products.