The Key Distinguishing Feature Between the Mainstream Economics School and the Institutional

question 20

Multiple Choice

The key distinguishing feature between the mainstream economics school and the institutional labor economics (or industrial relations) school is that the industrial relations school believes that labor markets:

• A) Are not perfectly efficient.
• B) Operate similar to other types of markets.
• C) Have too few suppliers of labor (workers) but many purchasers of labor (employers).
• D) Work only when there is a "working class" that is excluded from the "ownership class."

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Definitions:

Matching Hypothesis

The theory that individuals are more likely to form and maintain relationships with others who are similar in physical attractiveness.

Paradox

A statement or proposition that, despite sound reasoning from acceptable premises, leads to a conclusion that seems logically unacceptable or self-contradictory.

Passionate Love

An intense emotional and physical attraction to someone, often characterized by a strong desire and longing for the person.

Tender Sexual Feelings

Gentle and affectionate emotions associated with sexual attraction or love.