Business High School

Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called __________ unemployment.

Answers

Answer 1

Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called [tex]\sf\purple{frictional}[/tex] unemployment.

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Answer 2

Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called friction unemployment.

What is friction unemployment?

Short-term unemployment includes frictional unemployment. When someone actively seeks a job or a new career, they are said to be in a frictional state of unemployment. Unemployment that is only intermittent isn't always a terrible thing. In fact, since it's voluntary, frictional unemployment may be a sign of a strong economy.

If an individual leaves their work voluntarily or is dismissed, they are considered to be frictionally unemployed. People who are just entering the workforce and looking for their first job would also be considered to be frictionally unemployed,

Frictional unemployment, which has nothing to do with the economic cycle and is voluntary, entails people changing occupations. A downturn in a sector or a change in technology are only two examples of how changes in the economy can directly cause structural unemployment.

Thus, friction unemployment.

For more information about friction unemployment, click here:

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Related Questions

A job interview is a conversation between a job applicant and one or more people in a company or organization
to discuss the applicant's qualifications for a specific job. True or false

Answers

Answer:

True

Explanation:

company or organization ready to accept jop applications from jop applicant

In the Keynesian conception of the AD/AS model: An increase in AD can expand real output and employment without causing much inflation.An increase in AD can expand real output and employment without causing much inflation.An increase in AD can expand real output and employment only by causing a great deal of inflation.An increase in AD can expand real output and employment only by causing a great deal of inflation.A decrease in AD can reduce inflation substantially but causes unemployment.A decrease in AD can reduce inflation substantially but causes unemployment.Changes in AD and changes in the price level are inversely related.Changes in AD and changes in the price level are inversely related.The only effective fiscal policy is to increase aggregate supply.

Answers

Answer:

An increase in AD can expand real output and employment without causing much inflation.

Explanation:

John Maynard Keynes was a British economist born on the 5th of June, 1883 in Cambridge, England. He was famous for his brilliant ideas on government economic policy and macroeconomics which is known as the Keynesian theory. He later died on the 23rd of April, 1946 in Sussex, England.

Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.

A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.

According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.

Aggregate demand (AD) can be defined as the total quantity of output (final goods and services) that is demanded by consumers at all possible price levels in an economy at a particular time.

On a standard Aggregate demand (AD)-Aggregate supply (AS) curve, the y axis denotes the Price (P) of goods and services while the x axis typically denotes the Output (Q) of final goods and services.

Hence, in the Keynesian conception of the Aggregate demand-Aggregate supply (AD/AS) model, an increase in aggregate demand (AD) can expand real output and employment without causing much inflation. Inflation can be defined as the persistent general rise in the price of goods and services in an economy at a specific period of time.

Generally, inflation usually causes the value of money to fall and as a result, it imposes more cost on an economy.

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