Equilibrium unemployment refers to unemployment that A) arises in a cyclical downturn. B) occurs when trade unions set wages at too high a level. C) persists when the aggregate demand for labour is equal to the aggregate supply. D) can only occur when aggregate demand equals aggregate supply. E) occurs
Equilibrium unemployment refers to unemployment that A) arises in a cyclical downturn. B) occurs when trade unions set wages at too high a level. C) persists when the aggregate demand for labour is equal to the aggregate supply. D) can only occur when aggregate demand equals aggregate supply. E) occurs
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Equilibrium
A) arises in a cyclical downturn.
B) occurs when trade unions set wages at too high a level.
C) persists when the aggregate
D) can only occur when aggregate demand equals aggregate supply.
E) occurs due to a lack of aggregate demand..
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