When Unemployment Is High

question 145

Multiple Choice

When unemployment is high,

• A) jobs are easy to find.
• B) employers compete against many other employers for new workers.
• C) workers compete against many other unemployed workers.
• D) workers have an advantage in bargaining over wages.
• E) workers can choose from a large number of available jobs.

---

Definitions:

Promissory Note

A financial instrument containing a written promise by one party to pay a certain sum of money to another party under specified conditions.

Revolving Line of Credit

A flexible loan arrangement which allows a borrower to use, repay, and re-borrow funds up to a certain credit limit.

Negotiability

The feature of a financial instrument that allows it to be transferred or assigned freely from one party to another.

Default

Failure to fulfill a legal obligation, especially failing to make a required payment on a loan or financial agreement.