Types of Unemployment: Macroeconomics!

Can frictional unemployment ever be completely eliminated?

• no

• yes

When does frictional unemployment happen?

• when people ar preparing for retirment.

• when people are between jobs

Sturctural unemployment occurs when

• skills employees have are no longer needed or they are irrelevant.

• employees take a leave of absence to gain new skills for their job.

In the example Mr. Sinn talks about the video store he worked at was replaced by redbox . How dos this show demonstarte that his skills were no longer useful.

• Because the computer knew more about the movies than a human would.

• Because a red box stand with a computer in it could hand out the videos instead of a human.

Cyclical unemployment connects directly to the

• business cycle

• circular flow model

Cyclical unemployment occurs during which phase of the business cycle?

• contraction and troughs

• expansion and peaks

Seasonal unemployment is connected to

• the different phases of the business cycle

• the weather or a specific time of the year.

Which type of unemployment is the least harmful and will always exist.

• frictional

• structural

• cyclical

Anything under ___% is considered fully employed.

• 4.5%

• 2.5%