The Idea That the Natural Rate of Unemployment Rises When

question 83

Multiple Choice

The idea that the natural rate of unemployment rises when the actual rate of unemployment rises is known as

• A)stabilization.
• B)insider-outsider theory.
• C)hysteresis.
• D)an efficiency wage model.

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Definitions:

Theological Stage

AUGUSTE Comte's term for the earliest stage of human society, in which explanation of the world relies on religious and supernatural beliefs.

Positive Stage

In the context of philosophical and social development theories, particularly those of Auguste Comte, it refers to the final stage of societal evolution in which scientific methods and empirical data are used to understand societal issues.

Industrial Stage

A phase in the development of a society characterized by the growth of industries, mass production, and a shift from agrarian to industrial economies.

Global Village

A term that describes the world as being interconnected through technology, making distances shorter and communication instant, as envisioned by Marshall McLuhan.