When Individuals Are Unemployed Because They Lack the Qualifications to Fill

question 46

Multiple Choice

When individuals are unemployed because they lack the qualifications to fill available jobs, this is called

• A) frictional unemployment.
• B) natural unemployment.
• C) cyclical unemployment.
• D) structural unemployment.

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Definitions:

Bananas

A type of edible fruit that is elongated and curved, with soft flesh rich in starch covered by a peel.

Perfect Complements

Goods that are often used together in fixed proportions, where the consumption of one item necessarily involves the consumption of the other.

Income Effect

The change in an individual's or economy's consumption patterns due to a change in real income, reflecting how increases or decreases in income can affect buying habits.

Substitution Effect

The alteration in purchasing behavior caused by variations in the relative costs of products, prompting buyers to opt for less expensive alternatives over pricier ones.