Which of the Following Is Not True of Declining Industries

question 48

Multiple Choice

Which of the following is not true of declining industries?

• A)Job loss is not a problem in a declining industry because the workers can easily find jobs in expanding industries.
• B)Jobs may be lost by declining industries but new jobs are created in expanding industries.
• C)Over 60 million new jobs have been created in the United States since 1960.
• D)One way to solve the problems posed by declining industries is for the government to fund programs to retrain workers for jobs that are in greater demand.
• E)One way to solve the problems posed by declining industries is for the government to offer wage subsidies or special tax breaks that decline over time.

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Definitions:

Human Wants

The desires and needs of individuals for goods, services, and other intangibles that lead to satisfaction.

Opportunity Cost

The toll taken for not picking the second highest preference when decisions are formulated.

Tax Cut

A reduction in the amount of taxes imposed by the government, which can affect individuals, corporations, or specific sectors.

State Expenditures

The total spending by state governments on various public services, infrastructure, education, and welfare programs.