The Three Generally Recognized Types of Unemployment Are

question 25

Multiple Choice

The three generally recognized types of unemployment are

• A) voluntary, potential, and residual.
• B) cyclical, frictional, and structural.
• C) involuntary, temporary, and disciplinary.
• D) teenage, female, and nonwhite.
• E) classical, Keynesian, and post-Keynesian.

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Definitions:

Demand

Demand in economics refers to the quantity of a product or service that consumers are willing and able to purchase at various prices during a certain period.

Increase

A rise or growth in quantity, size, intensity, or another measure.

Demand Curve

A chart that illustrates the correlation between a product's price and the amount of it consumers want to buy, usually depicted as a line sloping downwards towards the right.

Gasoline

Gasoline is a volatile, flammable liquid derived from petroleum, primarily used as fuel in internal combustion engines.