According to Classical economists in the 1930s, a recession will end when:
A. government creates enough jobs for all of the unemployed.
B. wages fall enough to eliminate unemployment.
C. wages rise enough to eliminate unemployment.
D. taxes are cut enough to stimulate private spending.
Answer: B
Economics
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Dolly Varden is not employed. She is also not unemployed. How can that be?
A) It can't. Dolly must be either employed or unemployed. B) Dolly must be over 65 years old. C) Dolly must not be actively searching for a job. D) Dolly must be a discouraged worker.
Economics
If another worker adds 9 units of output to a group of workers who had an average product of 7 units, then the average product of labor
A) will decrease. B) will remain the same. C) will increase. D) and what will happen to it cannot be determined.
Economics