If the Demand for Alarm Clocks Decreases,the Effect on the Alarm

question 15

Multiple Choice

If the demand for alarm clocks decreases,the effect on the alarm clock job market will be to

• A)Increase the demand for labor and increase equilibrium wages.
• B)Reduce the supply of labor and increase equilibrium wages.
• C)Decrease the demand for labor and reduce equilibrium wages.
• D)Have no impact on equilibrium wages.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.