Answer:
The correct answer is letter "A": With the longer duration of unemployment benefits, firms needed to keep wages high to attract people to work. This caused downward wage rigidity, leading to persistent higher unemployment.
Explanation:
The Great Recession (2007-2009) is the period in U.S. economics when it suffered a high-scale dwindle as a result of the collapse in the real estate market and the subprime mortgage crisis. The financial sector collapsed as well forcing some banks to declare bankruptcy.
In this context, long-lasting unemployment benefits were provided such us <em>downward wage rigidity</em>, which implied employers were unable to reduce the salaries in dollar terms. By doing that, having low to none income, in order to meet their income objectives, major organizations had to lay off employees directly causing the rate of unemployment increase.
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Answer:
D). High in probability and low in consequence.
Explanation:
This situation could be best described as high in probability and low in consequence as Jim employs the instinctive approach to this manage this risk. Instincts imply the inclination towards a specific complex behavior of people which is contrary to the reflexes that are entirely based on the stimulus responses of people. <em>Jim's behavior illustrates the high-probability and low-consequence which implies that his action(inhaled his frozen confection) does not contain any destructive consequence as it occurs in the case of low-probability and high-consequence case.</em> Thus, option D is the correct answer.
Answer:
b. Bob will likely outlive Tom.
Explanation:
Bob has been married for 25 years while Tom has been in a relationship for 27 years with the same woman. Considering the given statement, it can be suggested that Bob will likely outlive Tom and this conclusion is based on age factor. First is that Bob seems to be younger than Tom as he has been in a relationship or has been married for 2 less years than Tom. Lets suppose that they both got into a relationship or marriage at the age of 25. This means that Bob is 50 today and Tom is 52. Hence, Bob is likely to outlive Tom.
