- 04/15/2019 at 5:56 am #488900EduGorillaKeymasterSelect Question Language :
Directions: Read the following text and answer the question:
The concentrated incidence of unemployment means far greater costs to society than can be measured simply in hours of involuntary idleness or income lost. The social and economic strains of prolonged underutilization create strong pressures from cost-increasing solutions…On the side of labor, prolonged high unemployment leads to "share-the-work" pressures for shorter hours, intensifies resistance to technological change and to rationalization of work rules, and, in general, increases incentives for restrictive and inefficient measures to protect existing jobs. On the side of business, the weakness of markets leads to attempts to raise prices to cover high average overhead costs and to pressures for protection against foreign and domestic competition.
What type of relation does the two types of pressures bear with each other?
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- Both represent pressures of the marketing forces.
- Both represent internal pressures of the factors of production.
- One type is micro in nature; the other is macro.
- One type represents the pressures on the demand side; the other on the supply side.
- One type represents the pressures on the factorial side; the other on the entrepreneurial side.
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