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Macroeconomics > Unemployment > Flashcards

Unemployment Flashcards

1
Q

Types of Unemployment

A

Structural, Cyclical, Frictional

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2
Q

Structural Unemployment

A

Change/re-allocation of resources that make some jobs obsolete. Can be caused by creative destruction. (New technologies make old ones obsolete.)

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3
Q

Frictional Unemployment

A

Unemployment caused by information lag. It takes time to hire people for the right positions because of information lag.

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4
Q

Cyclical Unemployment

A

Caused by economic recessions and downturns.

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Macroeconomics (11 decks)

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