During recessions employment typically
a. falls substantially. As the recession ends, employment rises rapidly.
b. rises substantially. As the recession ends, employment declines gradually.
c. falls substantially. As the recession ends, employment rises gradually.
d. rises substantially. As the recession ends, employment declines rapidly.
c
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In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
Under the Soviet system of communism,
A) technological progress was slow because managers had little incentive to develop new technologies. B) managerial pay was determined by the extent to which managers could lower the per-unit costs of production. C) the per-worker production function in the Soviet Union shifted up more rapidly than production functions in other countries. D) competitive pressures in the Soviet Union allowed the country's technological progress to keep pace with the rest of the world.