-Refer to Figure 8-1.If the labor market is in equilibrium,there is no
A) unemployment
B) frictional unemployment
C) structural unemployment
D) seasonal unemployment
E) cyclical unemployment

Question

-Refer to Figure 8-1.If the labor market is in equilibrium,there is no
A) unemployment 
B) frictional unemployment 
C) structural unemployment 
D) seasonal unemployment 
E) cyclical unemployment

Quizplus · Accepted Answer

In equilibrium, the labor market is at full employment, meaning there is no cyclical unemployment, which is unemployment due to economic downturns. Other types of unemployment can still exist.