Frictional Unemployment Is the Result of

question 231

Multiple Choice

Frictional unemployment is the result of

• A)an economic recession.
• B)the economic decline of major industries.
• C)the normal process of jobs being created and destroyed.
• D)people not getting along (having friction)with their employers.
• E)changing weather throughout the year.

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Definitions:

Labor

Employment or tasks performed by workers for wages as part of the production process in the economy.

Positive Supply

A situation in which suppliers are willing to offer goods or services for sale, often as a result of positive prices or profitable conditions.

Long-Run Equilibrium

A state in which all firms in the market are making zero economic profit, and all inputs can be adjusted by managers.

Plaster

A building material used for coating walls and ceilings, consisting mainly of water, sand, lime, or gypsum.