Which of the following statements is true about the U.S.economy?
A)Each year,many new jobs are created,but few existing jobs are destroyed,and the unemployed find jobs quickly.
B)Each year,few new jobs are created,but few existing jobs are destroyed,keeping unemployment low.
C)Each year,many new jobs are created and many existing jobs are destroyed.
D)Each year few jobs are created,and therefore it takes the unemployed a long time to find a new job.

Question

Quizplus · Accepted Answer

The U.S. economy is characterized by a dynamic labor market in which job creation and destruction occur simultaneously. While many new jobs are created each year, many existing jobs are also destroyed, leading to a high level of job turnover. This explains why the unemployment rate can fluctuate even during periods of economic growth. Therefore, option C accurately describes the situation in U.S. economy.

Which of the Following Statements Is True About the U