According to Classical Economists,the Increase in Unemployment in Recessions Is

question 20

Multiple Choice

According to classical economists,the increase in unemployment in recessions is caused by

• A)slack aggregate demand.
• B)the failure of wages to adjust to restore equilibrium in the labour market.
• C)the power of labour unions,which prevent firms from cutting wages.
• D)a mismatch of workers and jobs.

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Definitions:

Globalization

The process of increasing interdependence and connectivity of global economies, cultures, and populations, driven by trade, technology, and the flow of ideas and people.

Several Thousand Languages

Refers to the vast number of distinct languages currently spoken around the world.

Rationalization

The process of making actions or processes logical and efficient, often through the application of scientific methods.

Global Resistance Movements

Collective actions or groups that oppose and resist dominant power structures, policies, or socio-economic conditions on a global scale.