Use the following answers to respond to the next five questions: a)frictional un

Question

Use the following answers to respond to the next five questions: a)frictional unemployment b)structural unemployment c)cyclical unemployment d)natural unemployment e)none of these is correct 1. Individuals who are temporarily between jobs represent this type of unemployment. 2. The kind of unemployment we saw during the Great Depression. 3. The type of unemployment that results when an unemployed person does not have the skills required for available jobs 4. The type of unemployment associated with discouraged workers. 5. The kind of unemployment we see when the economy is at full employment.

Explanation / Answer

frictional unemployment is the time period between jobs when a worker is searching for, or transitioning from one job to another. It is sometimes called search unemployment and can be voluntary based on the circumstances of the unemployed individual. Structural unemployment is a form of unemployment resulting from a mismatch between demand in the labour market and the skills and locations of the workers seeking employment. Even though the number of vacancies may be equal to, or greater than, the number of the unemployed, the unemployed workers may lack the skills needed for the jobs, or they may not live in the part of the country or world where the jobs are available.[citation needed] Cyclical Unemployment -Economists describe cyclical unemployment as the result of businesses not having enough demand for labor to employ all those who are looking for work. The lack of employer demand comes from a lack of spending and consumption in the overall economy. When the economy is said to be at full employment, it is at its natural rate of unemployment 1 frictional 2 cyclical 3 structural 4 frictional 5 natural

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