Which of the Following Causes of Unemployment Would Most Likely

question 10

Multiple Choice

Which of the following causes of unemployment would most likely be affected by more accessible information about job opportunities?

• A) Collective bargaining
• B) Minimum wage laws
• C) Job search
• D) Efficiency wages

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Definitions:

Zero Profits

a situation where a firm's total revenues are exactly equal to its total costs, typically occurring in perfectly competitive markets in the long run.

Noncooperative Equilibrium

A situation in which individuals or firms choose their strategy based on the anticipation that others will act in their own self-interest, leading to an outcome where no participant can benefit by changing their strategy unilaterally.

Prisoners' Dilemma

A concept in game theory where two individuals acting in their own self-interest do not produce the optimal outcome, demonstrating the conflict between individual and collective rationality.

Strategic Behavior

Actions taken by a firm that attempt to influence the future behavior of other firms.