Cyclical Unemployment Is

question 89

Multiple Choice

Cyclical unemployment is:

• A)the additional unemployment not captured in official statistics resulting from discouraged workers and involuntary part-time workers.
• B)the extra unemployment that occurs during periods of recession.
• C)short-term unemployment that is associated with the process of matching workers with jobs.
• D)long-term and chronic unemployment that exists even when the economy is producing at a normal rate.

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Definitions:

Excessive Bids

Bidding amounts that significantly exceed the estimated value of an item in auctions or tender processes.

Dominant Strategies

In game theory, strategies that are best for a player regardless of what the other players choose.

Credible Threat

A statement or action that is believable and carries the weight of possible enforcement, often used in negotiations or strategic situations.

Economies of Scale

The cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale.