Dr. Homer Simpson, an economics professor, decided to take a year off from teaching to run a commercial ﬁshing boat in Alaska. That year, Professor Simpson would be oﬃcially counted as

Question

Quizplus · Accepted Answer

Professor Simpson is employed, as he is working and earning income as a commercial fisherman. He has not left the labor force or become unemployed by choice or due to structural changes in the economy, so options A and C are not applicable. Option B, frictional unemployment, occurs when individuals are between jobs or searching for their first job, but this does not apply to Professor Simpson's situation.

Dr Homer Simpson, an Economics Professor, Decided to Take a Year