When the Growth Rate of the Labour Force Is Greater

question 25

Multiple Choice

When the growth rate of the labour force is greater than the growth rate of total employment,the unemployment rate

• A)decreases.
• B)increases.
• C)is below NAIRU.
• D)is above NAIRU.
• E)is equal to NAIRU.

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Definitions:

Henry Demarest Lloyd

An American progressive political activist and critic of monopolies, known for his work "Wealth Against Commonwealth" highlighting the evils of the Standard Oil Company.

Standard Oil

An American oil producing, transporting, refining, and marketing company. Established by John D. Rockefeller and partners in the late 19th century, it was a major factor in the early development of the oil industry.

Wealth Against Commonwealth

A book by Henry Demarest Lloyd, published in 1894, exposing the monopolistic practices of the Standard Oil Company and advocating for government action against monopolies.

Social Darwinists

Individuals who apply the evolutionary concept of natural selection to human society, often to justify political conservatism, imperialism, and racism and to discourage intervention and reform.