An Argument in Support of Hysteresis Is

question 54

Multiple Choice

An argument in support of hysteresis is

• A)companies may be reluctant to hire workers until AD increases
• B)prices are sticky in the short run
• C)the skills of unemployed workers may deteriorate making it more difficult to find a job
• D)overlapping wage contracts

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Definitions:

Novation

The act of replacing an obligation to perform with a new obligation or replacing a party to an agreement with a new party.

Mortgage

A legal agreement by which a bank, building society, etc., lends money at interest in exchange for taking the title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Assignment

The transfer of rights or property from one party to another.

Delegation

The act of assigning responsibility or authority from one person or group to another.