When Wages Rise 15 Percent,under Which of the Following Circumstances

question 8

Multiple Choice

When wages rise 15 percent,under which of the following circumstances will short-run aggregate supply increase?

• A)if productivity is stable
• B)if productivity increases by 10 percent
• C)if productivity increases by 15 percent
• D)if productivity increases by 20 percent

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Definitions:

Social Loafing

A situation in which people put in less effort towards achieving an objective when they are part of a team than when they operate independently.

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups. Cultural norms strongly influence social behavior and interactions.

Role Expectations

The anticipated behaviors and actions associated with a particular social position or status.

Situational Attribution

The process of attributing someone's behavior to external factors, such as the environment or circumstances, rather than to internal personality traits.