Assume That This Graph Illustrates a Perfectly Competitive Labor Market

question 58

Multiple Choice

Assume that this graph illustrates a perfectly competitive labor market. In this market, at a wage of $40:

• A)the market would be in equilibrium.
• B)more people would want to work than number of job openings.
• C)firms would not be able to find enough workers to fill all their positions.
• D)approximately 175 worker hours would be hired.

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Definitions:

Scapegoating

refers to the practice of unfairly blaming an individual or group for problems or failures, often to deflect attention from the real causes.

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Deindividuation

A psychological state characterized by reduced self-awareness and decreased personal responsibility in group settings, which can lead to uninhibited and sometimes antisocial behavior.

Dispositional Attribution

The tendency to explain someone's behavior based on internal factors, such as personality traits, rather than external circumstances.