A reduction in the rate of inflation is referred to as
A) disinflation. B) deflation. C) recession. D) unemployment.
A
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Long-term increases in productivity that have increased the demand for labor, and raised real wages, have resulted primarily from ________ and ________.
A. a modernized capital stock; an increased labor supply B. a modernized capital stock; skill-biased technological change C. technological progress; a modernized capital stock D. technological progress; an increased labor supply
Throughout history, governments have used price controls to
A. protect buyers. B. protect sellers. C. serve the “public interest.” D. All of these responses are correct.
The U.S. had a low fertility rate in the early nineteenth century
Indicate whether the statement is true or false
In some remote communities, there was only one employer in the local labor market several years ago, but the number of firms that hired workers in the market increased over time
What is the expected change in the local labor market as the number of employers increased (ceteris paribus)? A) Wages and employment increase B) Wages remain the same but employment increases C) Wages increase but employment remains the same D) Wages and employment decline