The Bureau of Labor Statistics Predicts That the Number of Jobs

question 425

Multiple Choice

The Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline. This change in the labor market could lead to

• 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:

Unemployment

A condition where people who have the ability and desire to work are unable to secure jobs.

Production Possibilities Frontier

A curve depicting the maximum attainable combinations of two or more products that may be produced with available resources and technology.

Inward Shift

Describes a decrease in the potential output of an economy, often visualized as a leftward shift of the Production Possibility Frontier (PPF).

Production Possibilities Curve

A graphical representation that shows the maximum possible output combinations of two goods that an economy can achieve with its existing resources and technology under full employment.