Unemployment Flashcards
1
Q
Cyclical unemployment?
A
When the aggregate demand is too low to create employment opportunities
2
Q
Frictional unemployment?
A
Between jobs, moving from on job to another (short term employment)
3
Q
Structural/ technological unemployment?
A
Unemployment resulting from industrial change. Typically due to technological change rather than the fluctuations in supply and demand
4
Q
Seasonal unemployment?
A
Certain times in the year ur not employed.
5
Q
Real wage unemployment?
A
Is when the wages are set higher than the equilibrium causing a higher supply of people instead of demand
