An Increase in Cyclical Unemployment Would Most Likely Be Caused

question 3

Multiple Choice

An increase in cyclical unemployment would most likely be caused by:

• A) an increase in aggregate supply.
• B) a decrease in aggregate demand.
• C) an advance in technology.
• D) government deregulation of industry.

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Definitions:

Cure the Defect

The process of correcting or fixing a flaw or error in a legal document or procedure.

Confirmed Letter of Credit

A letter of credit that has an additional guarantee by a second bank, ensuring payment under the letter of credit if the issuing bank fails to do so.

Seller's Bank

A bank appointed by a seller, often in trade transactions, to handle the documentation and receipt of payment from the buyer.

Liability

A company's or individual's legal responsibility for their actions or the state of being legally obligated to settle a debt.