Suppose That Next Year 300 000 Existing Jobs in the Economy

question 38

Multiple Choice

Suppose that next year 300 000 existing jobs in the economy are eliminated and 200 000 new jobs are created. The amount of unemployment will decline over that year if

• A)more than 300 000 people join the labour force.
• B)less than 100 000 people join the labour force.
• C)less than 100 000 people drop out of the labour force.
• D)more than 100 000 people drop out of the labour force.
• E)more than 100 000 people join the labour force.

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Definitions:

Consideration Substitute

Refers to a principle or factor that can stand in the place of consideration in certain contractual situations, allowing a contract to be enforceable without the traditional exchange of value.

Reliance

The act of depending on or trusting in something or someone, often used in legal contexts to denote reliance on a contract or promise.

Promissory Estoppel

A judicial doctrine that bars an individual from retracting a commitment once the other individual has justifiably depended on that pledge to their disadvantage.

Moving Expenses

Costs associated with relocating from one residence or office location to another, which sometimes are covered by employers.