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Which of the Following Correctly Describes Job Leavers

question 110

Multiple Choice

Which of the following correctly describes job leavers?
i. Job leavers make up the largest portion of the unemployed.
ii. The number of job leavers fluctuates less than other types of unemployed people.
iii. The number of job leavers during the 2008-09 recession topped 6 percent of the labor force.


Definitions:

Larger Bequest

Pertains to a greater amount of money or property left to someone in a will, highlighting the concept in inheritance and estate planning.

Marginal Tax-Rate

The rate at which the next dollar of taxable income is taxed.

Substitution Effect

The change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution.

Income Effect

The change in consumption that results when a price change moves the consumer to a higher or lower indifference curve

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