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Graphically Illustrate (Using the WS and PS Relations)and Explain the Effects

question 20

Essay

Graphically illustrate (using the WS and PS relations)and explain the effects of an increase in the markup on the equilibrium real wage,the natural rate of unemployment,the natural level of employment,and the natural level of output.


Definitions:

Job Stress

The harmful physical and emotional responses that occur when the requirements of a job do not match the capabilities, resources, or needs of the worker.

Isolation

The experience of being separated from others, which can be physical or emotional, leading to feelings of loneliness.

Work Overload

The condition of having more work tasks and responsibilities than can be managed within the allotted time, leading to stress and potential burnout.

Industrial-Organizational Specialty Area

This area of psychology applies psychological principles to workplace environments, focusing on improving work performance, selecting employees, and enhancing job satisfaction.

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