Bob Is Looking for Work After School,but Everywhere He Fills

question 98

Multiple Choice

Bob is looking for work after school,but everywhere he fills out an application,the managers say they always have a lot more applications than open positions.Tom has a law degree.Several firms have made him offers,but he thinks he might be able to find a firm where his talents could be put to better use.

• A)Bob and Tom are both frictionally unemployed.
• B)Bob and Tom are both structurally unemployed.
• C)Bob is frictionally unemployed,and Tom is structurally unemployed.
• D)Bob is structurally unemployed,and Tom is frictionally unemployed.

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Definitions:

Interest Rate

The expense, depicted as a percentage of the principal sum, that a borrower must bear for the borrowing of assets from a lender.

Foreign-Currency Exchange

The conversion of one country's currency into another's, a key process in international trade and investments.

Net Exports

The disparity between what a nation exports and what it imports in total.

Import Quota

A limit set by the government on the amount or cost of products allowed to be brought into a country from abroad.