Which Is the Most Accurate Statement

question 138

Multiple Choice

Which is the most accurate statement?

• A)There is no such thing as a business cycle.
• B)Most business cycles are less than two years long.
• C)The business cycle is defined as alternating increases and decreases in the level of business activity of varying amplitude and length.
• D)Business cycles are defined as increases and decreases in business activity of fixed amplitude that occur regularly at fixed intervals.

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Definitions:

Exclusive Unions

Exclusive unions refer to labor unions that represent a specific set of workers, often requiring membership as a condition for employment within certain industries.

Above-equilibrium Wage

A wage rate set higher than the market equilibrium, often leading to decreased unemployment and potentially excess supply of labor.

Human Capital Investment

The expenditure of resources on education, training, and health, aiming to increase the productivity and earnings potential of individuals.

Worker Training

The process of providing employees with the skills and knowledge they need to perform their jobs effectively.