Regarding Unemployment, the Classical Model Implies That

question 166

Multiple Choice

Regarding unemployment, the classical model implies that

• A) unemployment always exists.
• B) unemployment cannot exist.
• C) voluntary unemployment is zero, but involuntary unemployment often is fairly high.
• D) only voluntary unemployment exists.

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Definitions:

Strong Generalization

A statement about all members of a group or category that is made on the basis of evidence for some members, assuming it applies universally with little to no exceptions.

Single Instance

A reference to an argument or conclusion drawn from one example or case, which may not be sufficiently representative.

Representative

An individual who acts on behalf of others, typically in a legislative or formal setting, or a sample that accurately reflects the characteristics of a larger group.

Induction

A method of reasoning that moves from specific instances to form general conclusions or theories.