During Recessions, When Some Workers Lose Their Jobs and Have

question 7

Multiple Choice

During recessions, when some workers lose their jobs and have lower incomes, sales of durable goods (goods with a life expectancy of 3 years or more) decline. Apparently, durable goods are:

• A)substitutes.
• B)normal goods.
• C)complements.
• D)inferior goods.

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Definitions:

Enlistments

The act of signing up for duty in the armed forces voluntarily.

Recruiting Quotas

Set numbers or percentages of individuals that an organization, such as the military, aims to enroll or recruit within a specific time period.

Militia

A military force that is raised from the civil population to supplement a regular army in an emergency.

Neutral Shipping

The practice of merchant ships from neutral countries conducting trade without engaging in hostilities during a time of war.