Which of the following best describes why unemployment rates remained high well after the end of the Great Recession of 2007-2009?
A) Falling wages discouraged workers from taking on new employment.
B) The 20 percent of U.S.workers employed at minimum-wage jobs were unable to take wage cuts.
C) Workers that were initially cyclically unemployed,like construction workers,effectively became structurally unemployed as they needed to transition to new industries to find work.
D) Deflation in the economy discouraged spending,preventing output and employment from recovering.
Correct Answer:
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