____ unemployment is/are always present in a dynamic economy.

Question

Quizplus · Accepted Answer

Frictional and structural unemployment are always present in a dynamic economy. Seasonal unemployment occurs due to seasonal changes in demand for labor in certain industries such as agriculture, tourism, and retail. However, frictional unemployment occurs due to the time it takes for individuals to find a new job after quitting or being laid off from their previous job. Structural unemployment, on the other hand, occurs due to a mismatch between the skills of the workforce and the available job opportunities in the economy. Both frictional and structural unemployment are inevitable in a dynamic economy as the labor force is constantly changing and the economy is continuously evolving.

____ Unemployment Is/are Always Present in a Dynamic Economy