Which of the Following Can Be Consideration for a Promise

question 48

Multiple Choice

Which of the following can be consideration for a promise?

• A) Refraining from beating one's spouse.
• B) Promising to refrain from beating one's spouse.
• C) Refraining from smoking cigarettes.
• D) Refraining from using cocaine.

---

Definitions:

Marginal Wage Cost

The additional cost incurred by hiring one more unit of labor, reflecting the change in total wages from employing an additional worker.

Monopsonistic Labor Market

A market condition where a single buyer (employer) controls the market for labor and determines wages and employment levels.

Labor Demand Data

Information and metrics related to the number of workers employers are willing and able to hire at different wage levels, across various industries or the economy as a whole.

Labor Supply Data

Information regarding the number of individuals available to work, including their skills and wage requirements.