What does the phrase "jobless recovery" refer to?

A. It refers to a recovery from a recession which does not produce strong growth in employment.
B. It refers to a situation in which rising productivity has made it possible for firms to reduce their workforce and increase output at the same time.
C. It refers to the phenomenon where U.S. firms move their production abroad, thereby destroying jobs in the domestic market and creating new jobs in foreign markets.
D. It refers to a situation in which a worker's real wage falls despite increases in productivity.

Ans: A. It refers to a recovery from a recession which does not produce strong growth in employment.

Economics

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Which of the following will always be true when an economy is in long-run equilibrium?

a. The level of prices will be constant (that is, inflation will be zero). b. Actual output will exceed the potential output. c. The actual rate of unemployment will be less than the natural rate of unemployment. d. The output of the economy will correspond with the full-employment output.

Economics

A 25% import tariff on imported cheese is referred to as

A) Ad valorem. B) Combination. C) Specific. D) None of the above.

Economics