ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A computer programmer who quits her job to move to a warmer climate
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A construction worker who loses his job in the winter
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An auto worker who losses her job in a recession
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A steel worker who is replaced by a robot
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A toy maker who worked for a company that closed because consumers didn’t buy the toys
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Detailed explanation-1: -Answer and Explanation: The correct answer is d; Whose job skills do not match the economy’s needs. Structural unemployment is defined as unemployment in an economy caused by changes in job needs following a mismatch of the skills needed between the available jobs and the unemployed.
Detailed explanation-2: -Farmers in emerging market economies are another example of structural unemployment. Free trade allowed global food corporations access to their markets. That put small-scale farmers out of business. They couldn’t compete with the lower prices of global firms.
Detailed explanation-3: -Structural unemployment is a category of unemployment caused by differences between the skills possessed by the unemployed population and the jobs available in the market. Structural unemployment is a long-lasting condition that is caused by fundamental changes in the economy.
Detailed explanation-4: -Which of the following offers an example of structural unemployment? The rise in unemployment for horse-stable workers after the development of gasoline-powered automobiles and the resulting long-term decline in horse-and-buggy transportation.