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.

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Definitions:

Home Environment

The physical and emotional surroundings where one lives, which can influence an individual's well-being, behavior, and development.

Schooling Environment

The physical, social, and academic context in which formal education takes place.

Department of Education

A government agency responsible for the oversight and coordination of education policy, funding, and guidelines at various levels, typically focusing on improving educational outcomes and accessibility.

High Schools

Educational institutions providing secondary education, typically for students aged 14 to 18.