The Economy Has Gone into a Recession

question 155

Multiple Choice

The economy has gone into a recession.You have majored in computer science and,because of the recession,have difficulty in finding a job.Should you go back to school and get a second major?

• A)Yes,the recession will ensure that you will never find a job as a programmer.
• B)Yes,the recession will lower income in my field permanently.
• C)No,the recession will most likely be short-lived and I can get a job after it is over.
• D)No,the recession will have no impact on my ability to get a job or my future income.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition.

Secondary Labour Market

Refers to jobs characterized by low pay, job insecurity, limited career prospects, and minimal benefits, often contrasted with the 'primary' market which offers better employment conditions.

Interlocking Directorates

Are formed when an individual sits on the board of directors of two or more non-competing companies.

Conglomerates

Are large corporations that operate in several industries at the same time.