(Consider This) Which of the Following Best Explains Why Unemployment

question 268

Multiple Choice

(Consider This) Which of the following best explains why unemployment rises significantly during a recession?

• A)Wages are sticky both upward and downward.
• B)Wages are flexible both upward and downward.
• C)Wages are flexible upward but sticky downward.
• D)Wages are sticky upward but flexible downward.

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Definitions:

Negligent Misrepresentation

Providing false or misleading information carelessly, causing someone to suffer loss or damage.

Innocent Misrepresentation

A type of misrepresentation in legal contexts where the person making the misrepresentation genuinely believes it to be true, lacking intent to deceive.

Unilateral Mistake

A legal term describing a situation where only one party to a contract is mistaken about a basic assumption on which the contract is based.

Innocent Misrepresentation

A false statement made without knowledge of its falsity, not intended to deceive, which can lead to a contract being voided if relied upon by the other party.