Which of the Following Is Not Correct

question 360

Multiple Choice

Which of the following is not correct?

• A) Frictional unemployment is inevitable in a dynamic economy.
• B) Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead to higher productivity and higher living standards.
• C) At least 10 percent of U.S. manufacturing jobs are destroyed every year.
• D) More than 13 percent of U.S. workers leave their jobs in a typical month.

Evaluate reasons behind the implementation of price controls and their political and economic implications.

Identify examples of black market transactions resulting from price controls.

Assess the implications of price controls on consumer and producer surplus.

Understand specific inefficiencies caused by binding price ceilings and floors, like persistent shortages and surpluses.

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Definitions:

Narrative Identity

The story one tells oneself about who one is.

Intellectual Identity

An individual's self-concept related to their intelligence, cognitive abilities, and engagement in intellectual activities.

Sense of Purpose

An individual's sense of having a goal, direction, or aim in life, which gives meaning to their actions and experiences.

Rank-Order Change

A change in the position or order within a ranking system, such as individuals moving up or down in a list based on a specific criterion.