During the Early 1990s, Many Workers in Military-Related Industries Lost

question 82

Multiple Choice

During the early 1990s, many workers in military-related industries lost their jobs as the defense budget was reduced. Unemployment of this type is called

• A) cyclical unemployment.
• B) the natural rate of unemployment.
• C) frictional unemployment.
• D) structural unemployment.

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Definitions:

Simulation

A process of modeling the operation of a real-world system or process over time.

Scarce Resources

Assets, materials, or commodities that are limited in supply but high in demand, often leading to allocation challenges.

Open System

An organizational model that interacts with its environment by exchanging information, materials, and energy.

Outputs

The final products, services, or results generated by a process, system, or organization.