Higher Costs of Changing Jobs Will Result in All of the Following

question 46

Multiple Choice

Higher costs of changing jobs will result in all of the following EXCEPT

• A) individual firms' labor supply curves will slope upward.
• B) some workers will stay in jobs even when they can earn more in an identical job with another firm.
• C) firms will lose some monopsony power.
• D) quit rates will not be perfectly responsive to changes in wages.

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Definitions:

Mercantilists

Economic theorists and practitioners who advocated for mercantilism, a system promoting government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers.

Service

Activities performed to satisfy the needs or desires of others, which can range from manual labor to intellectual or artistic output.

State

A politically organized community living under a single system of government; may also refer to the governmental apparatus through which policies are enforced and administered.

Habsburg Empire

A major European political entity that existed from the late Middle Ages until 1918, ruled by the Habsburg dynasty, including territories in modern-day Austria, Hungary, and other regions.