When the Demand for Labor Is Falling and Employers Have

question 187

Multiple Choice

When the demand for labor is falling and employers have committed to high wages, _____ unemployment will result.

• A) frictional
• B) cyclical
• C) permanent
• D) structural

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Definitions:

Producing

The process of creating goods or services through the combination of labor, materials, and machinery to meet consumer demand.

Coolers

Devices or containers used to keep items cold or chilled.

Radios

Electronic devices used for receiving sound broadcasts from radio stations, enabling listening to music, news, and other audio content.

Gains From Trade

The benefits that parties obtain from voluntary trade, where each party can secure goods or services they value more highly than those they trade away.