The Persistent,long-Term Unemployment Caused by Long-Lasting Shocks or Permanent Features

question 5

Multiple Choice

The persistent,long-term unemployment caused by long-lasting shocks or permanent features of an economy is called:

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

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Definitions:

Book Of Vouchers

A ledger or book that contains vouchers, which are documents or files acting as evidence for transactions.

Gross Method

A method of recording purchases of inventory at their gross price without any deduction for trade discounts at the time of purchase.

Periodic Inventory Method

An accounting approach where inventory values and cost of goods sold are determined at the end of an accounting period through physical inventory counts.

Purchases Discount

A reduction in the invoice price of goods, granted by the seller to the buyer for early payment within a specified time frame.