Describe the Terms Frictional Unemployment,structural Unemployment,and Cyclical Unemployment

question 119

Essay

Describe the terms frictional unemployment,structural unemployment,and cyclical unemployment.Give a hypothetical example of each to help support your answer.

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Definitions:

Great Depression

A severe worldwide economic depression in the 1930s, marked by high unemployment, deflation, and significant declines in economic activity.

Aggregate Demand

The total demand for all goods and services in an economy at various price levels, at a given point in time.

Aggregate Supply

The total amount of goods and services that producers are willing and able to supply at a given overall price level in an economy.

Market Risk

Market risk, also known as systematic risk, refers to the potential for investors to experience losses due to factors that affect the overall performance of the financial markets.