Which of the following statements is true of the unemployment rate in a country?
A) It is not correlated with the level of economic activity in a country.
B) It normally decreases during periods of both economic expansion and contraction.
C) It normally increases during periods of economic expansion and decreases during periods of economic contraction.
D) It normally decreases during periods of economic expansion and increases during periods of economic contraction.
D
You might also like to view...
Which of the following types of workers might have wages that change quickly?
A) union workers B) movie stars and rock stars C) unskilled, low-wage workers D) employees of state and local governments
In the presence of asymmetric information with costless monitoring and enforcement, a hire contract results in production efficiency
Indicate whether the statement is true or false
Official unemployment rates may underestimate the true rate of unemployment because the official rate
A. may include some individuals who are not actually in the labor force. B. includes those workers who only work part time. C. does not include individuals receiving any type of unemployment compensation. D. fails to include discouraged workers.
A price-and-quantity-fixing agreement is known as
A. price leadership. B. collusion. C. game theory. D. price concentration.