Asked by
Joyce Quirol
on Nov 16, 2024
Verified
The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.
Frictional Unemployment
This refers to unemployment that occurs when people are between jobs or are entering the workforce for the first time.
Labor Supplied Exceeding
A situation where the quantity of labor offered by workers surpasses the quantity demanded by employers.
- Absorb the definitions and characteristics of frictional, structural, and sectoral unemployment.
Verified Answer
SY
Learning Objectives
- Absorb the definitions and characteristics of frictional, structural, and sectoral unemployment.
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