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.
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At a perfectly competitive firm’s short-run equilibrium level of output,
A. P = MR = MC. B. P = MR, but MR does not equal MC. C. P = MC, but MR does not equal MC. D. MR = MC and P < MR.
The North American Free Trade Agreement affects trade between:
a. the United States, Cuba, and Brazil. b. the United States, Canada, and Mexico. c. the United States, Puerto Rico, and Cuba. d. Brazil, Bolivia, Peru, and Columbia. e. China and the United States.
The expected effects of monetary expansion are
a. lower real interest rates. b. exchange rate depreciation. c. higher inflation. d. All of the above are correct.
The price level rises if either
a. money demand shifts rightward or money supply shifts leftward; this rise in the price level is associated with a rise in the value of money. b. money demand shifts rightward or money supply shifts leftward; this rise in the price level is associated with a fall in the value of money. c. money demand shifts leftward or money supply shifts rightward; this rise in the price level is associated with a rise in the value of money. d. money demand shifts leftward or money supply shifts rightward; this rise in the price level is associated with a fall in the value of money.