Two Important Theories of Unemployment Are

question 29

Multiple Choice

Two important theories of unemployment are

• A) game theory and search theory.
• B) search theory and the efficiency wage theory.
• C) the efficiency wage theory and the quantity theory.
• D) the quantity theory and game theory.

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Definitions:

Self-Interest

Self-Interest describes actions or decisions motivated by personal gain, often without regard for others.

Moral Result

The outcome or impact of an action or decision judged according to ethical principles and moral values.

Utilitarianism

An ethical theory that promotes actions that maximize happiness and well-being for the majority of a population.

Laissez Faire

An economic philosophy advocating minimal governmental intervention in the market and the private sector.