Frictional Unemployment Refers to Unemployment That Is a Result Of

question 113

Multiple Choice

Frictional unemployment refers to unemployment that is a result of:

• A)a mismatch of skills.
• B)being out of work 27 weeks or longer.
• C)job search.
• D)seasonal decreases in demand for labor.
• E)a recession in the economy.

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Definitions:

Marginal Benefit

The additional satisfaction or utility that an individual gains from consuming one more unit of a good or service.

Marginal Cost

The additional expenditure involved in producing one additional unit of a good or service.

Product X

A placeholder name typically used in economics and marketing to represent a generic product under consideration.

Resource Allocation

The process of assigning and distributing available resources to various uses in an economy, often in order to maximize efficiency or achieve a desired outcome.