Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for customary ones, is known as:
A) cyclical unemployment.
B) seasonal unemployment.
C) frictional unemployment.
D) structural unemployment.

Question

Quizplus · Accepted Answer

Structural unemployment refers to unemployment caused by changes in the structure of the economy, such as changes in technology or the introduction of new goods. This type of unemployment is not related to the business cycle or temporary factors like seasonal changes, so it is distinct from cyclical or seasonal unemployment. Frictional unemployment is due to people transitioning between jobs and is also not related to structural changes in the economy.

Unemployment That Occurs from Fundamental Technological Changes in the Production