Employees with a Transactional Psychological Contract

question 5

Multiple Choice

Employees with a transactional psychological contract:

• A)do not expect immediate correction to any short-term imbalances.
• B)are more likely to engage in organizational citizenship behaviours.
• C)have a long-term attachment with a broad array of subjective expectations.
• D)have all of the above.
• E)have none of the above.

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Definitions:

Competitive Labor Market

A market where multiple firms compete to hire workers, and no single employer has the power to influence wages or employment conditions significantly.

Marginal Resource Cost Curve

A graphical representation showing the change in total cost incurred by producing one more unit of a resource, helping firms decide the optimal level of resources to employ.

Labor Supply Curve

A graphical representation showing the relationship between the wages offered and the quantity of labor workers are willing to supply.

Monopsonistic Labor Market

A market condition where there is only one buyer (employer) for many sellers of labor, giving the buyer significant control over wages and employment conditions.