If the Official Unemployment Rate Increases in January from Its

question 138

Multiple Choice

If the official unemployment rate increases in January from its December level because the Christmas season is over,we can conclude that __________ unemployment is responsible for the increase.

• A)seasonal
• B)cyclical
• C)structural
• D)frictional
• E)any one of the causes of

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Definitions:

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar but differentiated.

Maximize Profit

The goal of adjusting production or service levels to achieve the highest possible returns.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Subsidies

Financial support extended by the government to stimulate an industry or reduce the prices of goods and services for consumers.