During the Past 150 Years,the U.S.has Evolved From

question 3

Multiple Choice

During the past 150 years,the U.S.has evolved from:

• A)An agrarian economy to an information technology economy.
• B)A business to business economy to a business to consumer economy.
• C)An agrarian economy to a manufacturing economy to a service oriented economy.
• D)A manufacturing economy to a service economy,to a cottage economy,and now we are trending back to an agrarian economy.

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Definitions:

Frictional Unemployment

A form of unemployment that occurs when people are between jobs or within the workforce for a short period, often due to transitions or searching for a job that better matches their skills.

Structural Unemployment

A form of unemployment caused by a mismatch between the skills held by the unemployed population and the skills demanded by the prevailing job market.

Cyclical Unemployment

Unemployment that rises during economic downturns and falls when the economy improves, linked to business cycles.

Frictional Unemployment

Unemployment that occurs when people are between jobs or are entering the labor market for the first time.