If Imperfect Information Characterizes Workers' Behavior,then There Will Be a

question 48

Multiple Choice

If imperfect information characterizes workers' behavior,then there will be a

• A)slow adjustment of the demand for labor,Nd.
• B)rapid adjustment of the demand for labor,Nd.
• C)rapid adjustment of both the demand for labor,Nd,and the supply of labor,Ns.
• D)a lagged adjustment of the equilibrium level of employment,Ns.

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Definitions:

Mitigate

To make less severe, serious, or painful; often used in the context of reducing risk or harm.

Defined Benefit Plan

A type of pension plan where the employer promises a specified pension payment upon retirement, based on an employee's earnings history, tenure of service, and age.

Defined Contribution Plan

A type of retirement plan where the amount contributed to the plan is specified, but the benefit received at retirement depends on the plan's investment performance.

Endowment Fund

A fund established by a foundation, institution, or individual, where the principal amount is kept intact while the investment income is available for use.