The Reason Why Self-Correction Works to Close a Recessionary Gap

question 64

Multiple Choice

The reason why self-correction works to close a recessionary gap is because:

• A)a labor shortage causes wages to increase.
• B)a labor surplus causes wages to increase.
• C)a labor shortage causes wages to fall.
• D)a labor surplus causes wages to fall.
• E)a labor surplus causes price to fall.

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Definitions:

Extended Family

A family unit that goes beyond the immediate nuclear family to include other relatives such as grandparents, aunts, uncles, and cousins.

Economy

The system by which goods and services are produced, distributed, and consumed in a society.

Travel And Transportation

Refers to the movement of people or goods from one location to another, facilitated by various modes of transport such as cars, planes, trains, and ships.

Conflict Theory

A theory in sociology and social psychology that emphasizes the role of power and coercion in producing social order.