Look at the Following Data: the Structural Unemployment Rate Is

question 125

Multiple Choice

Look at the following data: The structural unemployment rate is 4 percent,the natural unemployment rate is 5 percent,and the cyclical unemployment rate is 3 percent.The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent.

• A) 2; 7
• B) 2; 8
• C) 1; 7
• D) 1; 8

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Definitions:

Subsidizes

Financial aid supplied by the government to an industry or business so that the price of a commodity or service may remain low or competitive.

Steel

A hard, strong alloy made primarily of iron and carbon, used extensively in construction and manufacturing.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in the demand for the other.

Demand

The measure of a good or service that patrons are eager and able to procure, across various pricing, throughout a certain duration.