Structural Unemployment Implies That

question 36

Multiple Choice

Structural unemployment implies that:

• A)there is actually full employment.
• B)unemployed people are in transition between jobs.
• C)people in search of work do not match the available jobs.
• D)only people who do not wish to work are unemployed.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or offer a service at a lower opportunity cost than another.

Absolute Advantage

The ability of a country to produce a good at a lower cost than its trading partners.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive compared to local products.

Trade Deficit

A situation where a country’s imports exceed its exports during a given time period, leading to a negative balance of trade.