When Unemployment Rates Fall

question 20

Multiple Choice

When unemployment rates fall,

• A) there is a greater demand for services.
• B) training and retention strategies increase in importance.
• C) unions are more likely to organize workers.
• D) qualified workers become more loyal.
• E) salaries become stagnant.

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Definitions:

Quantity Fall

This term is not widely recognized as a standard economic or financial term. NO.

Dominant Strategy

A strategy in game theory that yields the highest payoff for a player no matter what the other players do.

Annual Profit

The total earnings a company makes in one fiscal year after all expenses and taxes have been subtracted from its total revenue.

Nash Equilibrium

A concept within game theory where each player's strategy is optimal when considering the decisions of other players, leading to a situation where no participant can gain by unilaterally changing their strategy.