One Possible Explanation for the Existence of Unemployment Is

question 99

Multiple Choice

One possible explanation for the existence of unemployment is:

• A) that the wage does not adjust immediately to changes in labor demand.
• B) the quantity of labor is sticky downward and does not adjust to an increase in wages.
• C) the labor market is perfectly competitive.
• D) labor supply always shifts in such a way as to lead to unemployment.

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Definitions:

Personality Style

The combination of emotional, thought, and behavioral patterns unique to an individual that influences their reactions and interactions.

Estate System

A system of stratification in which the ownership of property and the exercise of power is monopolized by an elite or noble class that has total control over societal resources.

Caste System

A hierarchical social stratification system found in some societies, where individuals' status is determined by birth and remains fixed for their lifetime.

Class Systems

Hierarchical social categories based on factors like wealth, occupation, and education, influencing individuals' opportunities and social interactions.