If You Have Trouble Finding a Job Because of a Slowdown

question 187

Multiple Choice

If you have trouble finding a job because of a slowdown in the overall economy, we would say that you are

• A)frictionally unemployed.
• B)structurally unemployed.
• C)cyclically unemployed.
• D)seasonally unemployed.
• E)naturally unemployed.

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Definitions:

NBA Championship

The annual championship series of the National Basketball Association.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for competition on factors besides price.

Industry Supply Curve

A graph showing the quantity of a good that all producers in an industry are willing to sell at different prices.

Market Price

The price at which a good or service is bought and sold in a competitive marketplace, determined by supply and demand.