In the long run,
A)total unemployment = frictional unemployment + structural unemployment.
B)total unemployment = frictional unemployment + cyclical unemployment.
C)total unemployment = structural unemployment + cyclical unemployment.
D)total unemployment = structural unemployment + seasonal unemployment.
E)total unemployment = seasonal unemployment + cyclical unemployment.

Question

Quizplus · Accepted Answer

In the long run, total unemployment consists of frictional unemployment (time spent between jobs) and structural unemployment (mismatch between workers' skills and job requirements), as cyclical unemployment (related to business cycles) is expected to be zero.

In the Long Run