Why Is There NO Persistent Unemployment in the Classical Model

question 75

Multiple Choice

Why is there NO persistent unemployment in the classical model?

• A) The wage level adjusts to eliminate unemployment.
• B) The interest rate adjusts to eliminate unemployment.
• C) The rate of economic growth is always high enough to allow those who want to work at current wages to find jobs.
• D) Unionization creates job security for workers.

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Definitions:

Celebrate Diversity

The act of recognizing, respecting, and valuing differences among individuals in terms of ethnicity, gender, age, national origin, disability, sexual orientation, education, and religion.

Ignore Differences

The deliberate or unintentional refusal to recognize or acknowledge variations between entities or pieces of information.

Common Ingroup Identity

A recategorizing of members of two or more distinct groups into a single, overarching group.

Different Races

refers to distinct groups of humans classified based on shared physical or social qualities into categories generally viewed as distinct by society.