Unemployment Can Exist in a Market Clearing Model, If

question 48

Multiple Choice

Unemployment can exist in a market clearing model, if:

• A)the labour market is in disequilibrium.
• B)we allow capital utilization of less than 100%.
• C)we allow for differences among workers and jobs.
• D)all of the above.

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Definitions:

France

A country located in Western Europe, known for its rich history, culture, and contributions to art, science, and philosophy.

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much one currency is worth in terms of another.

American Truck

Typically refers to trucks manufactured by companies based in the United States, known for their size and power.

EU

The European Union, a politico-economic union of 27 member states that are located primarily in Europe.