EC140-questions with accurate answers (verified)Graded A+

discouraged worker - Answers-a marginally attached worker who has stopped looking for a job because of repeated failure to find one frictional unemployment - Answers-the unemployment that arises from the normal labour turnover; from people entering and leaving the labour force and from the ongoing creation and destruction of jobs structural unemployment - Answers-the unemployment that arises when changes in technology or international competition change the skills needed to perform jobs or change the locations of jobs cyclical unemployment - Answers-the higher than normal unemployment at a business cycle trough and the lower than normal unemployment at a business cycle peak natural unemployment rate - Answers-the unemployment that arises from frictions and structural change when there is no cyclical unemployment expressed as a percentage of the labour force