The Decline in the Natural Rate of Unemployment Between the 1970s

question 52

Multiple Choice

The decline in the natural rate of unemployment between the 1970s and the 2000s might be the result of:

• A)the changing age structure of the population and more efficient labor markets.
• B)advances in computer technology and globalization.
• C)increasing wage inequality and skill-biased technological change.
• D)greater quantities of human capital and increased average labor productivity.

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Definitions:

Anhedonia

A condition characterized by a diminished ability to experience pleasure or interest in normally enjoyable activities.

Unrelenting Lack

A persistent or continuous absence of something needed or desired.

Lack of Pleasure

Also known as anhedonia, it refers to the reduced ability or inability to experience pleasure in activities that typically produce joy.

Post-traumatic Stress Disorder

A mental health condition triggered by experiencing or witnessing a traumatic event, characterized by flashbacks, nightmares, severe anxiety, and uncontrollable thoughts about the event.