What Are the Best Steps to Take If You Are

question 16

Multiple Choice

What are the best steps to take if you are in financial debt?

• A)Get another credit card to help you pay off your current creditors.
• B)Immediately file for bankruptcy.
• C)Address the problem immediately with your creditors,working with them to create a payment plan.
• D)both a and c
• Fill in the Blank
• Insert the word or phrase that BEST completes the sentence.

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Definitions:

Structural Unemployment

Unemployment because (1) the skills demanded by employers do not match those of the unemployed, or (2) the unemployed do not live where the jobs are.

Skills Mismatch

A situation where the skills of workers do not match the needs of the jobs available, leading to inefficiencies in the labor market.

Unemployment Types

Categories that differentiate the reasons individuals are without employment, including cyclical, frictional, and structural unemployment.

Frictionally Unemployed

Individuals temporarily out of work while transitioning between jobs, often reflecting the natural movement in the labor market.