The three types of unemployment are
A) frictional, part- time, and involuntary.
B) frictional, structural, and cyclical.
C) voluntary, part- time, and cyclical.
D) voluntary, involuntary, and structural.

Question

Quizplus · Accepted Answer

The three types of unemployment are frictional (due to individuals transitioning between jobs), structural (due to changes in the structure of the economy leading to a mismatch of skills and job opportunities), and cyclical (due to fluctuations in the business cycle and overall economic activity). Option A is incorrect because part-time employment does not necessarily equate to unemployment, and involuntary unemployment is a consequence, not a cause, of unemployment. Option C is incorrect because voluntary unemployment is not a recognized type of unemployment, and part-time employment does not necessarily equate to unemployment. Option D is incorrect because voluntary/involuntary is not a recognized type of unemployment, and structural unemployment is a recognized type.

The Three Types of Unemployment Are