In 2015,JP Morgan Chase Announced That It Was Laying Off

question 1

Multiple Choice

In 2015,JP Morgan Chase announced that it was laying off 5,000 employees.The laid-off employees who were not able to find jobs at another bank due to a permanent decline in demand in the banking industry would be considered

• A)structurally unemployed.
• B)frictionally unemployed.
• C)seasonally unemployed.
• D)cyclically unemployed.

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Definitions:

Federal Taxes

Taxes imposed by the government on income, property, sales, and other activities, used to fund public services and operations.

Employees' Wages

The compensation paid to employees for their labor or services, typically calculated on an hourly or salary basis.

Liability

Financial obligations or debts that a company owes to outside parties.

Taxing Agency

A government body responsible for administering and collecting taxes from individuals and businesses.