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) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) None of the above is correct.

Question

Quizplus · Accepted Answer

Bob's decision to retire does not fit into the categories of frictional, structural, or cyclical unemployment. His choice is personal and not related to the labor market conditions or economic cycles.

Bob Inherits a Large Sum of Money from His Dead