Cutbacks in Auto Sales Due to Increased Imports from Japan

question 55

Multiple Choice

Cutbacks in auto sales due to increased imports from Japan is an example of

• A)cyclical unemployment.
• B)frictional unemployment.
• C)seasonal unemployment.
• D)structural unemployment.

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Definitions:

Entrepreneurs

Individuals who start and operate new businesses, taking on financial risks in the hope of profit.

Start-Ups

Newly formed firms that are attempting to pioneer a new product or production method.

Service Industries

Sectors of the economy that provide intangible goods or services to consumers, such as healthcare, education, and leisure activities.

Basic Scientific Research

Fundamental investigations aimed at gaining a deeper understanding of concepts, processes, and phenomena without immediate practical applications.