Which of the Following Types of Unemployment Can Exist in an Economy

question 70

Multiple Choice

Which of the following types of unemployment can exist in an economy that is at its potential output level?

• A) cyclical unemployment only
• B) structural unemployment only
• C) frictional, cyclical, and seasonal unemployment only
• D) frictional, seasonal, and structural unemployment only
• E) there will be no unemployment in an economy that is at the potential output level

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Definitions:

Milling Department

A specific department within a manufacturing facility where milling processes, involving the removal of material to shape parts, occur.

Customizing Department

A specialized department within an organization that tailors products or services to meet specific customer requirements.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate overhead costs to products based on a certain basis such as labor hours or machine hours.

Job-Order Costing

A costing system used to accumulate costs of manufacturing a job or batch, where each job or batch has its distinct characteristics.