Given the slower growth in the demand for labor in the United States since 1973, the large increases in employment must be the result of:
A. decreases in the demand of labor.
B. increases in the real wage.
C. increases in the supply of labor.
D. decreases in the supply of labor.
Answer: C
You might also like to view...
In the United States, recessions are informally defined as ________ in real GDP
A) two consecutive quarters of positive growth B) two consecutive quarters of negative growth C) three consecutive quarters of negative growth D) three consecutive quarters of positive growth
Consider an economy that is greatly dependent on the U.S. economy for consumer goods and durables. Inflation will increase in the economy if:
A) the dollar appreciates vis-à-vis its own currency. B) the U.S. goes into a recession. C) the dollar depreciates vis-à-vis its own currency. D) the country adopts dollar as its official currency.