Which of the Following Is an Example of Frictional Unemployment

question 54

Multiple Choice

Which of the following is an example of frictional unemployment?

• A)Dave searches for a new job after voluntarily moving to San Diego.
• B)Elaine is willing to work for less than the minimum wage, but employers cannot hire her for less than the minimum wage.
• C)Bill is qualified and would like to be an airline pilot, but airlines do not find it profitable to hire him at the wage established by the airline pilots' union.
• D)Joan is willing to work for less than the going wage, but there are no jobs available.

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Definitions:

Bliss Point

The optimal quantity of consumption where any further increase or decrease would lead to lower satisfaction or utility.

Absolute Values

A mathematical operation that measures the distance of a number from zero on the number line, disregarding direction.

Indifference Curve

A graphical representation showing different combinations of two goods that provide an individual with the same level of satisfaction.

Favorite Bundle

In economic theory, it refers to the most preferred combination of goods and services by an individual or consumer.