Frictional Unemployment Is

question 270

Multiple Choice

Frictional unemployment is

• A) related to job search difficulties for potential workers.
• B) a result of a poor match of worker's abilities and skills with current requirements of employers.
• C) a result of business recessions that occur when aggregate demand is insufficient to create full employment.
• D) a result of the seasonal pattern of work in specific industries.

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Definitions:

Cartels

Organizations of producers or suppliers who collaborate to control production, pricing, and marketing of a product to maximize collective profits.

Cheat

To act dishonestly or unfairly in order to gain an advantage, especially in a game, exam, or competition.

Agreements

Arrangements or contracts between parties defining their rights, responsibilities, and relationships.

Kinked-Demand

A demand curve hypothesis in oligopolistic markets that explains why firms may not change their prices even when costs change, due to competitive reactions.