Unions Contribute to

question 49

Multiple Choice

Unions contribute to

• A)structural unemployment but not the natural rate of unemployment.
• B)the natural rate of unemployment but not structural unemployment.
• C)both structural unemployment and the natural rate of unemployment.
• D)neither structural unemployment nor the natural rate of unemployment.

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Definitions:

Keynes

John Maynard Keynes was a British economist whose theories revolutionized macroeconomic practices and governmental economic policies.

Government Spending

Expenditures made by the government for the purpose of economic activity, including salaries of public servants, public projects, and social services.

Recession

A marked reduction in economic performance widespread throughout the economy, persisting for more than a few months, often seen in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Expected Profit Rate

The forecasted return or profit expressed as a percentage that a business or investment is projected to earn over a specific period.