One Determinant of the Long-Run Average Unemployment Rate Is the

question 125

Multiple Choice

One determinant of the long-run average unemployment rate is the

• A)market power of unions, while the inflation rate depends primarily upon government spending.
• B)minimum wage, while the inflation rate depends primarily upon the money supply growth rate.
• C)rate of growth of the money supply, while the inflation rate depends primarily upon the market power of unions.
• D)existence of efficiency wages, while the inflation rate depends primarily upon the extent to which firms are competitive.

---

Definitions:

Learned Helplessness

A condition in which an individual learns to feel powerless and stops trying to change their situation due to repeated failures.

Learning Set

The ability to become more efficient in solving problems over time by applying strategies and experiences from previous problem-solving activities.

Cognitive Learning

Cognitive Learning refers to the process of acquiring new knowledge and understanding through thought, experiences, and the senses, emphasizing the role of the brain in processing and retaining information.

Internal Representations

Mental constructs of the outside world or abstract concepts, used by the brain to process information and guide behavior and decision-making.