Daniel,Steven,and Chris Work as Engineers in Connecticut

question 131

Multiple Choice

Daniel,Steven,and Chris work as engineers in Connecticut.The demand for engineers starts to decline as their company's profits start to decrease during a recession.As a result,Daniel and Steven are laid off from their jobs.Daniel and Steven would be classified as

• A) frictionally unemployed.
• B) discouraged workers.
• C) structurally unemployed.
• D) overemployed.
• E) cyclically unemployed.

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Definitions:

Least Costly

A term referring to an option that incurs the lowest expenses in comparison to alternatives.

Isocost Line

A graph representing all combinations of the inputs' quantities that equal a certain cost.

Capital

Financial assets or the financial value of assets, such as cash and goods, used to generate wealth through investment.

Labor

Refers to human efforts used in the production of goods and services.