ECONOMICS
BUSINESS CYCLES
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cyclical
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Seasonal
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Structural
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Frictional
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Detailed explanation-1: -Much technological unemployment, caused by the replacement of workers by machines might be counted as structural unemployment.
Detailed explanation-2: -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.
Detailed explanation-3: -Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap).
Detailed explanation-4: -For example, employees who produce a specialty clothing product that suddenly is no longer a trend might lose their position producing this specific product, causing structural unemployment.
Detailed explanation-5: -Seasonal unemployment. Frictional unemployment. Cyclical unemployment. Structural unemployment.