ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Frictional
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Cyclical
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Structural
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Not counted
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Detailed explanation-1: -Technological unemployment is the loss of jobs caused by technological change. It is a key type of structural unemployment.
Detailed explanation-2: -Frictional Unemployment It also happens when workers are fired or, in some cases, laid off due to business-specific reasons, such as a plant closure. Frictional unemployment is short-term and a natural part of the job search process.
Detailed explanation-3: -Frictional unemployment examples People who leave their current job to find a better one. People who are entering the workforce for the first time. People who are reentering the workforce.
Detailed explanation-4: -An example of cyclical unemployment is when construction workers were laid off during the Great Recession following the financial crisis of 2008.