The Average Duration of Unemployment

question 134

Multiple Choice

The average duration of unemployment

• A)decreases during recessions and increases during expansions.
• B)increases during recessions and decreases during expansions.
• C)does not vary with the business cycle.
• D)decreases all the time.
• E)increases all the time.

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Definitions:

Deficiency

The lack or shortage of something, typically a necessary quantity or quality.

Liable for Payment

Being legally responsible for the settlement of a debt or financial obligation, typically as a consequence of a contract or law.

Consent

The voluntary agreement to or approval of what is done or proposed by another; can be given explicitly or implicitly.

Assign a Mortgage

The transfer of a mortgage from one party to another, changing the lender or creditor while the borrower remains the same.