Mismatch and Turnover Unemployment,while Conceptually Easy to Distinguish,are Often Difficult

question 4

Multiple Choice

Mismatch and turnover unemployment,while conceptually easy to distinguish,are often difficult to identify.Ceteris paribus,a person out of work for six months or an extended period would be classified by Gordon as

• A)experiencing turnover unemployment.
• B)experiencing mismatch unemployment.
• C)impossible to distinguish the type.
• D)first frictionally unemployed (the first month)and then structurally unemployed.

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Definitions:

Total Utility

The overall satisfaction or value a consumer gets from consuming a certain quantity of goods or services.

Marginal Utility

The added satisfaction a consumer gets from having one more unit of a good or service.

Demand Schedule

A table that lists the quantity of a good or service demanded by consumers at various price levels.

Marginal Utility Data

Information that quantifies the added satisfaction a consumer gains from consuming one more unit of a good or service.