Statement I: Cyclical Unemployment Is the Term Given to Workers

question 107

Multiple Choice

Statement I: Cyclical unemployment is the term given to workers who have been laid off because their skills are no longer in demand.
Statement II: At any given time about five percent of the labor force is frictionally unemployed.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

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An ancient city in Mali, historically significant as a center of Islamic scholarship and trade, known for its historic mosques and libraries containing valuable manuscripts.

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The period from 1501 to 1600, marked by significant global exploration, cultural exchanges, and the beginning of the European Renaissance.

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A concept referring to the legal and formal right to make decisions, direct resources, and command obedience within a society.

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