Frictional Unemployment

question 50

Multiple Choice

Frictional unemployment

• A) would be eliminated if the economy were more stable.
• B) would be eliminated if the minimum wage were raised.
• C) is the result of workers' skills not matching the jobs available.
• D) is present even when labor markets are working well.

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Definitions:

Demand and Supply

Fundamental economic concepts that describe the relationship between the quantity of a commodity that consumers wish to buy at various prices (demand) and the quantity that producers are willing to sell (supply).

Primary Variable

A key factor in experiments or models that can be manipulated or measured to assess its effects.

Consumer Incomes

The total income received by consumers, including wages, salaries, and other earnings, that influences spending behaviors and economic demand.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.