21. Cyclical unemployment is a result of An inadequate matching of qualified wor

Question

21. Cyclical unemployment is a result of An inadequate matching of qualified workers and available jobs b. a. Inaccurate and/or costly information about job opportunities Insufficient employment in the building trades c. d. Not enough employees to fill available jobs A downturn in economic activity e. 22. When people are unemployed because their skills have become obsolete due to technological advances, this type of unemployment is called a. Frictional b. structural c. cyclical d. voluntary e. abnormal 23. The natural unemployment is the unemployment rate that results from a. Rapid changes in the business cycle b. Frictional and structural conditions in labor markets c. Welfare benefits to unemployed workers d. Inflexible wages in the marketplace 24. Full employment is that rate of employment when a. All labor resources of an economy are employed somewhere b. There is efficient use of the labor force, with allowance made for normal unemployment due to dynamic changes and the structural conditions in the economy Cyclical unemployment is between 4 percent and 5 percent of the labor force c. d. Everybody who wants a job can find one 25. In the United States, an employment of between 94 percent and 95 percent indicates that the a. The economy has inefficiently high unemployment b. Economy is at full employment c. Government has not done enough to provide jobs d. Economy is in a recession

Explanation / Answer

21. E. Cyclical unemployment arises due to downturn in economic activity. It is due to business cycles of expansion, peak, contraction or trough.

22. B. Structural unemployment. This occurs when employment skills are no longer needed due to change in technology. Frictional unemployment is not correct as this is a voluntary unemployment.

23. B. Natural unemployment is the combination of frictional and structural unemployment.

24. B. Full employment occurs when labor is efficiently utilized with no cyclical unemployment.

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