Which of the following is not true of declining industries?
a. Job loss is not a problem in a declining industry because the workers can easily find jobs in expanding industries.
b. Jobs may be lost by declining industries but new jobs are created in expanding industries.
c. Over 60 million new jobs have been created in the United States since 1960.
d. One way to solve the problems posed by declining industries is for the government to fund programs to retrain workers for jobs that are in greater demand.
e. One way to solve the problems posed by declining industries is for the government to offer wage subsidies or special tax breaks that decline over time.
A
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Paulette owns a pizza parlor. Her total cost schedule is in the above table. Her marginal cost of producing the fifth pizza is
A) $8. B) between $8.01 and $10.00. C) between $10.01 and $14.00. D) between $14.01 and $78.00. E) more than $78.01.
By 2015, how many European countries were members of the European Union?
A) 12 B) 17 C) 28 D) 57
Which of the following ideas is illustrated by the production possibilities curve [PPC]?
a. There are no limits on the total production feasible in an economy. b. An economy need not decrease the production of one commodity to increase the production of another. c. It is possible to satisfy unlimited wants in an economy through proper investment in research and development. d. When an economy chooses to produce a combination of goods and services, other combinations of goods and services are sacrificed. e. An economy can specialize in the production of only one good.
Output per worker must be ________ output per person.
A. less than or equal to B. equal to C. no more than half the size of D. greater than or equal to