The Labour Market Is in Equilibrium Whenever

question 36

Multiple Choice

The labour market is in equilibrium whenever

• A)the nominal wage rate is increasing.
• B)the real wage rate is increasing.
• C)the nominal wage rate is not changing.
• D)the nominal wage rate is decreasing.
• E)the quantity of labour demanded equals the quantity of labour supplied.

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Definitions:

Propriate Striving

An aspect of Gordon Allport's personality theory, focusing on the individual's striving for self-enhancement, mastery, and accomplishment.

Criteria

Standards or principles by which something is judged or decisions are made.

Psychologically Healthy

Pertains to a state of mental and emotional well-being where an individual can use their cognitive and emotional capabilities, function in society, and meet the ordinary demands of everyday life.

Trait Theory

A psychological perspective that focuses on the identification and measurement of consistent personality characteristics (traits) that vary among individuals.