Which of the Following Did Contributed to the Slowdown in the Growth

question 25

Multiple Choice

Which of the following did contributed to the slowdown in the growth of real wages during the 1970s in the U.S.?

• A)A change in technology
• B)A decrease in the supply of labor
• C)A high rate of inflation due to high oil prices
• D)An increase in the rate of investment

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Definitions:

Unemployed Person

An individual who is capable of working, actively seeking work, but unable to find a job.

U-3 Measure

A specific unemployment rate measure that counts the number of unemployed individuals who are actively seeking employment as a percentage of the labor force.

Official Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment, as determined by government statistics.

Spells Of Unemployment

Periods during which an individual is unemployed or out of work but actively seeking employment.