In the View of the Classical School, Unemployment

question 141

Multiple Choice

In the view of the classical school, unemployment:

• A)is a permanent condition.
• B)disappears when everyone who is willing to work at the equilibrium wage finds employment.
• C)exists because people do not interfere with the competitive process.
• D)is only temporary because all wages and prices are rigid.
• E)is necessary and good for the economy.

Recognize the principle of specific performance and conditions under which it applies.

Analyze scenarios for potential breaches of contract and identify applicable legal defenses.

Understand the implications of newly enacted laws on existing contracts.

Comprehend the concepts of material alteration of contract terms and their acceptability.

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Definitions:

Delinquent Behavior

Actions that violate the norms or laws of a society or community, often committed by juveniles.

Developmental Track

A framework for understanding the typical sequence of milestones or stages of development that individuals go through in life.

Kohlberg's Stages

A theory proposed by Lawrence Kohlberg that outlines the stages of moral development, ranging from pre-conventional to post-conventional morality.

Moral Reasoning

The process by which individuals make decisions about what is right or wrong in a given situation, often based on ethical principles or social norms.