Productivity appears to be:
A) procyclical; firms are reluctant to lay off workers in a recession,so output falls more than employment
B) procyclical; firms are quick to lay off workers in a recession,so employment falls more than output
C) countercyclical; firms are reluctant to lay off workers in a recession,so output falls more than employment
D) countercyclical; firms are quick to lay off workers in a recession,so employment falls more than output
Correct Answer:
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