The Advice to "Retrain" Would Be Most Appropriate for Which

question 225

Multiple Choice

The advice to "retrain" would be most appropriate for which of the following types of unemployment?

• A)frictional unemployment
• B)structural unemployment
• C)cyclical unemployment
• D)core unemployment

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Definitions:

Perfectly Inelastic

A situation where the quantity demanded or supplied of a good does not change in response to a change in price.

Relatively Elastic

Describes a situation where the demand for a product is sensitive to changes in price, meaning a small price change can lead to a large change in quantity demanded.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs produced to inputs used in the production process.

Pasture Land

Land that is used for the grazing of livestock, allowing animals to feed on the grass and other vegetation present.