________ Unemployment Results Because Workers Lack the Right Skills, While

question 93

Short Answer

________ unemployment results because workers lack the right skills, while ___________ unemployment results when people are temporarily out of work while they are looking for a new job.
Cyclical; seasonal
Frictional; seasonal
Seasonal; structural
Cyclical; structural
Structural; frictional

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Definitions:

Substitute

A good or service that can replace another to satisfy similar needs or desires, often leading to competition between producers.

Consumer Surplus

The divergence between what consumers are willing to pay for a product or service and the actual payment they make.

Supply Curve

A visual display mapping out the link between how much of a good is supplied and its price.

Efficiency

The extent to which resources are used in the most effective way to produce goods and services, minimizing waste.