Frictional Unemployment Is

question 111

Multiple Choice

Frictional unemployment is:

• A) unemployment caused by time delays in matching available jobs and workers.
• B) unemployment caused by changes in the industrial makeup of an economy.
• C) unemployment caused by economic downturns.
• D) when a worker stops looking for a job because she feels no job is available for her.
• E) not one of the three types of unemployment.

---

Definitions:

Statute of Frauds

A legal doctrine requiring certain contracts to be in writing and signed by the parties involved to be enforceable.

Lifetime Employment

A practice, often associated with Japanese companies, where employees are hired with an understanding or expectation of employment security until retirement.

Performance

The act of fulfilling the duties or requirements specified in a contract or agreement.

Incidental Beneficiary

A third party who might receive a benefit from a contract between two other parties, although the contract is not primarily intended for the benefit of the third party.