Suppose We Wish to Examine the Determinants of the Equilibrium

question 18

Multiple Choice

Suppose we wish to examine the determinants of the equilibrium real wage and equilibrium level of employment (N) .In a graph with the real wage on the vertical axis,and the level of employment on the horizontal axis,the wage-setting relation will now be

• A)a vertical line.
• B)a horizontal line.
• C)an upward sloping line.
• D)a downward sloping line.
• E) a curve that first slopes upward, then downward.

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Definitions:

Genetic Factors

The hereditary elements and genes passed from parents to their offspring that influence various aspects of physical and mental characteristics.

Formal Operational

A stage in Piaget's cognitive development theory occurring from age 12 onwards, where individuals develop the ability to think abstractly and logically.

Cognitive Development

The process of growth and change in intellectual capabilities, influencing how one perceives, thinks, and understands the world.

Piaget

A Swiss developmental psychologist and philosopher known for his pioneering work in child development, particularly his theory of cognitive development that describes how children's minds evolve through stages.