The Difference Between Frictional Unemployment and Cyclical Unemployment Is That

question 86

True/False

The difference between frictional unemployment and cyclical unemployment is that cyclical unemployment is temporary.

---

Definitions:

Full Production

The level of production where a company or economy is maximizing its use of resources and operating at its highest efficiency.

Full Employment

Refers to the condition in the labor market where virtually all who are willing and able to work at prevailing wage rates are employed.

Capital Goods

Goods that are used in producing other goods and services, rather than being bought by consumers. This includes machinery, buildings, and equipment.

Consumer Goods

Items produced for personal use by households.