When Output Increases by 1%, the Unemployment Rate Does Not

question 76

Multiple Choice

When output increases by 1%, the unemployment rate does not tend to fall by 1% in the short run because

• A) a firm is likely to meet some of the increase in output by increasing the number of hours worked per job.
• B) the number of people who become employed is less than the number of new jobs created.
• C) as output increases, the size of the labor force increases.
• D) all of the above

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Definitions:

Private Self-Esteem

Describes an individual's personal, internal sense of self-worth or self-value, distinct from how they might be perceived by others.

Self-Knowledge

involves understanding one's own beliefs, emotions, motivations, and behaviors, recognizing personal strengths and weaknesses.

Easterners

A term often used to describe people from countries in the eastern part of the world, particularly Asia, focusing on cultural, social, and philosophical perspectives distinct from Western viewpoints.

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