ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Frictional unemployment involves people transitioning between jobs; it has nothing to do with the economic cycle and is voluntary. Structural unemployment is a direct result of shifts in the economy, including changes in technology or declines in an industry.

Detailed explanation-2: -Answer and Explanation: The correct option is (b). When a bank teller is laid off because more people are using ATMs, this type of unemployment is called structural unemployment. This has occurred due to technological improvements in an economy.

Detailed explanation-3: -Explanation: Frictional unemployment is an outcome of voluntary employment transitions within an economy. This type of unemployment refers to a transition period of looking for a new job, for different reasons, such as seeking a better job, being fired from a current job, or having voluntarily quit a current job.

Detailed explanation-4: -Structural unemployment is a type of unemployment that can last for many years and can be caused by changes in technology or shifting demographics. Cyclical unemployment is caused by economic downturns or is related to changes in business conditions that affect the demand for workers. More items