Which of the Following Is the Best Example of Frictional

question 14

Multiple Choice

Which of the following is the best example of frictional unemployment?

• A) John,a coal miner,was laid off because of a lack of demand for workers in his industry.He is looking into new opportunities in computer programming,but they require him to gain some new skills.
• B) Heather recently graduated with her doctorate in economics.She is searching for a job that matches her skills.
• C) Peter,a highly skilled construction worker,lost his job when the recession began.He is looking for work,but demand in the construction industry is still low.
• D) Allison,a recent high school graduate with high aspirations,is seeking a job as the CEO of a Fortune 500 company.

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Definitions:

Partnership Assets

Resources or items of value owned by a partnership that are used in the operation of the business.

Chart of Accounts

A structured list of all the financial accounts used in the organization's general ledger.

Drawing and Capital Accounts

These refer to accounts used in partnerships and sole proprietorships where the 'drawing account' tracks withdrawals made by the owner(s) for personal use, and the 'capital account' tracks the owner's invested equity and retained earnings in the business.

Sole Proprietorship

A sole proprietorship is a business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.