In 2002,the Demand for Construction Workers Increased and the Demands

question 293

Multiple Choice

In 2002,the demand for construction workers increased and the demands for textile and steel workers diminished.This is an example of

• A) frictional unemployment created by efficiency wages.
• B) structural unemployment created by efficiency wages.
• C) frictional unemployment created by sectoral shifts.
• D) structural unemployment created by sectoral shifts.

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Definitions:

Fixed Cost

Refers to expenses that do not change in total regardless of the level of production or sales activity, such as rent, salaries, and insurance costs.

Rent of Factory

The periodic payment made for the use of a factory facility or space for manufacturing or production processes.

Kitchen Manufacturer

A company or enterprise specializing in the production of kitchen units, appliances, and related items.

Engineered Cost

Costs that can be specifically traced and directly associated with certain activities or projects without ambiguity.