Unemployment That Occurs from Fundamental Technological Changes in the Production

question 68

Multiple Choice

Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for customary ones, is known as:

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

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Definitions:

Annuities

Financial products that guarantee a fixed or variable stream of payments over time, often used for retirement savings or to generate steady income during retirement.

Effective Annual Rate

The interest rate on a loan or financial product restated from the nominal rate as an annual rate, taking compound interest into account.

Compounded Value

Refers to the result of reinvesting the interest or earnings of an investment, causing it to grow exponentially over time.

Annuity Due

An annuity with payments occurring at the beginning of each period.