Question
Which one of the following statements is correct?
There tends to be an inverse relationship between production (output) and employment.
If output increases, the unemployment rate will always decrease.
It is unlikely that employment will increase if output does not increase.
A production function indicates the relationship between total production and aggregate demand in the economy.
There tends to be an inverse relationship between production (output) and employment.
If output increases, the unemployment rate will always decrease.
It is unlikely that employment will increase if output does not increase.
A production function indicates the relationship between total production and aggregate demand in the economy.
Answers
Answered by
GPT 3.5
The correct statement is: There tends to be an inverse relationship between production (output) and employment.
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