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The Unemployment Resulting When Real Wages Are Held Above Equilibrium

question 55

Multiple Choice

The unemployment resulting when real wages are held above equilibrium is called ______ unemployment, while the unemployment that occurs as workers search for a job that best suits their skills is called ______ unemployment.


Definitions:

NSF Check

A check that a bank has declined to honor because the account on which it was drawn does not have sufficient funds.

EFT Deposit

Stands for Electronic Funds Transfer deposit, a method of transferring money directly from one bank account to another electronically.

Service Charge

A fee collected to pay for services related to the primary product or service being purchased, often added to bills in restaurants, banking, and lodging industries.

Outstanding Checks

Checks that have been written and recorded in the accounting records but not yet cleared or cashed by the bank.

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