Construction Workers at Times Face High Rates of Unemployment Because

question 134

True/False

Construction workers at times face high rates of unemployment because their work is both seasonal and subject to wide swings over the business cycle.

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Definitions:

Utility

In economics, utility means the total satisfaction received from consuming a good or service.

Competitive Equilibrium

is a condition in a market where supply equals demand, with prices becoming stable at this point.

Capital Input

The resources used in the production process, including buildings, machinery, and equipment.

Labor Input

The total hours of work or number of workers employed in the production of goods and services.