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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are the two types of unemployment problems?

To determine

To discuss: The types of unemployment problems.

Explanation

There are three main types of unemployment problems frictional, structural and cyclical. The frictional and structural comes under natural unemployment and cyclical is the one that arises when there is a downfall in demands or a recession.

The presence of some level of unemployment will always be observed, even in a healthy economy.

The frictional unemployment occurs when workers leave their old jobs and has not found the new one or students finding their first jobs or mother joining back to work...

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