When There Are More Qualified Applicants Than Job Openings,this Indicates

question 52

Multiple Choice

When there are more qualified applicants than job openings,this indicates that the

• A)Economy must be in a recession.
• B)Labor supply curve must be backward-bending.
• C)Wages being offered are too high.
• D)Available jobs must be very desirable and pay high wages.

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Definitions:

Government Transfer Program

Programs through which governments redistribute income, typically from taxpayers to individuals in need, such as welfare, social security, and unemployment benefits.

Unemployment Compensation

Financial payments made to individuals who have lost their jobs until they find new employment, provided by the government or insurance programs.

Social Security

A government program designed to provide financial assistance to retirees, disabled individuals, and survivors of deceased workers.

Externalities

Economic side effects or consequences of an industrial or commercial activity that affect other parties without being reflected in the cost of the goods or services involved, either positively (benefits) or negatively (costs).