When Labor Is Substitutable Between Two Markets,we Should Expect

question 135

Multiple Choice

When labor is substitutable between two markets,we should expect:

• A) the two markets to pay the same or similar equilibrium wage.
• B) those markets to produce substitutable outputs.
• C) the workers in the two markets to commit to one at the start of their career and stick with it, despite the similarities.
• D) All of these statements are true.

---

Definitions:

Cognitive

Pertaining to mental processes such as perception, memory, judgment, and reasoning.

Biological

refers to the processes and phenomena inherent to living organisms, encompassing their physical structure, biochemical processes, growth, and development.

Moral Standards

Moral Standards are principles of right and wrong behavior and the goodness or badness of human character.

Social Norms

Shared guidelines or rules that prescribe the behavior that is acceptable within a group or society.