Why is there NO persistent unemployment in the classical model?
A. The rate of economic growth is always high enough to allow those who want to work at current wages to find jobs.
B. Unionization creates job security for workers.
C. The wage level adjusts to eliminate unemployment.
D. The interest rate adjusts to eliminate unemployment.
Answer: C
Economics
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Suppose a manager of a company is told by his staff that marginal productivity has risen above the average productivity over the last six months of operation
What can this manager conclude is happening to the overall average productivity of the company? Explain.
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An example of a cost of economic growth is
A) longer life spans. B) political instability. C) alienation. D) increases in illiteracy.
Economics