According to the Job-Rationing Explanation of Unemployment

question 13

Multiple Choice

According to the job-rationing explanation of unemployment,

• A)there is an excess supply of labor at the prevailing wage.
• B)the prevailing wage is higher than the equilibrium wage.
• C)the amount employed depends on the demand for labor at the prevailing wage.
• D)All of these
• E)None of these

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Definitions:

Availability

The state of being ready for use or accessible for a certain purpose or need.

Performance Contingency

A condition where the outcome or rewards depend on the level of performance achieved.

Consistency

The quality of always acting or behaving in the same way, leading to predictability in one's actions or responses.

Goal Setting

A process of identifying specific outcomes or achievements that an individual or organization aims to reach.