Why Does the Labor Market Have More Than One Equilibrium

question 15

Multiple Choice

Why does the labor market have more than one equilibrium wage rate?

• A)Workers differ in their productivities.
• B)Productivity of the workers initially increase but later decline.
• C)The labor demand curve is backward bending.
• D)Marginal revenue product of the different inputs used by firms vary.
• E)Employers compete among themselves to hire the best workers.

Recognize obsessive-compulsive personality traits and their impact on daily functioning.

Differentiate between normal emotional responses and clinical depression.

Identify specific phobias and their effects on individual behavior.

Understand the phenomenon of sensory and perceptual experiences without an external stimulus.

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Definitions:

Permanent Change

A transformation within an organization or individual's behavior that is lasting and not reversible.

Cognitive Abilities

Mental capabilities involving the use of logic, reasoning, problem-solving, planning, abstract thinking, and learning from experiences.

Job Performance

The effectiveness and efficiency with which an employee carries out their tasks, duties, and responsibilities at work.

Affective Outcomes

Results pertaining to emotional growth, such as changes in attitudes, values, and feelings, resulting from educational or training interventions.