All of the Following Would Increase the Natural Rate of Unemployment

question 145

Multiple Choice

All of the following would increase the natural rate of unemployment EXCEPT

• A)union activity restricts the mobility of labor.
• B)government licensing of teachers restricts employment.
• C)a mismatch of skills and jobs.
• D)a downturn in the economy.

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Definitions:

Product Price

The amount of money required to purchase a product, determined by factors like cost of production, market demand, and competition.

Product Life Cycle

A theory that describes the stages a product goes through from its introduction to the market to its decline and eventual withdrawal.

Maturity

The stage in a product's lifecycle where growth slows down, and sales stabilize or start to decline.

Service

A provision of intangible benefits or assistance, such as consulting, maintenance, or support, to satisfy consumer needs.