The Type of Unemployment That Occurs Because Technological Changes Make

question 140

Multiple Choice

The type of unemployment that occurs because technological changes make some jobs obsolete is known as

• A) structural unemployment.
• B) cyclical unemployment.
• C) technological unemployment.
• D) frictional unemployment.

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Definitions:

Price Ceiling

A legal maximum price that can be charged for a good or service, usually set by the government.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a specific price in a given period.

Tariffs

Taxes imposed by a government on imported goods.