Bob inherits a large sum of money from his dead uncle's estate. Bob decides to retire young, so he quits his job and heads to the Bahamas. Bob is an example of
A) cyclical unemployment.
B) structural unemployment.
C) frictional unemployment.
D) None of the above is correct.

Question

Quizplus · Accepted Answer

Bob's situation does not fit any of the typical categories of unemployment. Cyclical unemployment is related to economic downturns, structural unemployment is due to mismatches in skills or location, and frictional unemployment involves temporary transitions between jobs. Bob is not seeking employment, so he is not considered unemployed in these terms.

Bob Inherits a Large Sum of Money from His Dead