The Best Example of a Frictionally Unemployed Individual Is

question 305

Multiple Choice

The best example of a frictionally unemployed individual is

• A) Charles who has lost his job as an autoworker because of increased imports and can't find a good job that utilizes his skills.
• B) Mary who quit her job to find work closer to her home.
• C) Sam who lost his job as a real estate salesperson when the housing market went soft because of a recession.
• D) Sandy who has few skills and is no longer looking for work.

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Definitions:

Accumulated Depreciation

The total depreciation for an asset that has been recorded up to a specific point in time, reflecting its decline in value.

Fair Market Value

The price at which an asset would exchange hands between a willing buyer and seller, both having reasonable knowledge of all necessary facts.

Income Tax Method

When plant assets are exchanged, tax law says the gain or loss must be absorbed into the cost of the new asset.

Capital Expenditures

Funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment, intended to improve long-term operational efficiency.