Unemployment That Occurs When There Are Not Enough Jobs for the Number

question 107

Multiple Choice

Unemployment that occurs when there are not enough jobs for the number of people in the labor force is referred to as:

• A) Frictional unemployment.
• B) Structural unemployment.
• C) Cyclical unemployment.
• D) Seasonal unemployment.

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Definitions:

Demand Schedule

A table that shows the relationship between the price of a good and the quantity demanded.

Monopoly

A market structure dominated by a single seller, facing no competition in offering a unique product or service, allowing them to control prices and market conditions.

Network Externalities

The effect that an additional user of a good or service has on the value of that product to others, often increasing the product's value as the user base grows.

Game Console

A dedicated electronic device designed to play video games through a connection to a television or other display screen.