ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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frictional unemployment
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structural unemployment
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cyclical unemployment
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seasonal unemployment
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Detailed explanation-1: -According to the natural rate model, if government attempts to maintain an unemployment rate below the natural rate of unemployment, inflation will increase and continuously rise until unemployment returns to its natural rate.
Detailed explanation-2: -Answer: Various schemes include Ayushman Bharat, Prime Minister Awaas Yojana-Gramin, Schemes for Unemployed Women, Atal Pension Yojana, Social security relief to dependents of workers passing away due to COVID-19, Support for Marginalized Individuals for Livelihood and Enterprise, etc.
Detailed explanation-3: -Structural unemployment is caused by shifts in the economy, improvement in technology and workers’ lack of prerequisite job skills, which makes it difficult for workers to find employment. Technological unemployment is the loss of jobs caused by technological change.