-The Figure Above Shows the Demand for and Supply of Labor

question 183

Multiple Choice

-The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $6 per hour, how many hours of students' labor are unemployed?

• A) 12,000 hours
• B) 9,000 hours
• C) 6,000 hours
• D) 0 hours

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Definitions:

Reference Groups

Groups of people with whom one compares oneself.

Cohorts

Groups of people banded together or treated as a group, often used in research to describe subjects who share a defining characteristic typically within a specified time frame.

Dominance Hierarchy

Rankings that represent the relative social power of those in a group.

Social Competence

The ability to interact effectively with others, understanding social cues, and engaging positively in social settings.