Cyclical Unemployment Is a Consequence Of

question 56

Multiple Choice

Cyclical unemployment is a consequence of:

• A)a decline in aggregate spending.
• B)the decreasing relative importance of goods and the increasing relative importance of services in our economy.
• C)the everyday dynamics of a free labour market.
• D)technological change.

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Definitions:

Income

The monetary payment received for work or through investments, pensions, or social benefits, used by individuals or households to consume goods and services.

Marginal Utility

The increased enjoyment or value a buyer gets by consuming an extra unit of a merchandise or service.

Broccoli

A green vegetable from the cabbage family, known for its nutritional benefits and eaten either raw or cooked.

Rice

A staple food grain consumed worldwide, known for its versatility and ability to be grown in diverse environments, from mountain terraces to flat plains.