The Unemployment Resulting When Real Wages Are Held Above Equilibrium

question 55

Multiple Choice

The unemployment resulting when real wages are held above equilibrium is called ______ unemployment, while the unemployment that occurs as workers search for a job that best suits their skills is called ______ unemployment.

• A) efficiency; inefficiency
• B) efficiency; structural
• C) frictional; efficiency
• D) structural; frictional

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Definitions:

Personal Pledge

A commitment or promise made by an individual to themselves or others, often pertaining to personal goals, values, or actions.

Weight

A measure of the heaviness of an object, often quantified in units such as pounds or kilograms.

Multiple Selves

The concept that an individual possesses different versions of themselves, each of which may be presented in different contexts.

Conservative Businesswoman

A woman who adopts traditional approaches and cautious practices in business activities, often prioritizing stability and long-term value.