Asked by
LeRhonda Mundy
on Nov 30, 2024
Verified
Statement I: Seasonal unemployment is not as large as frictional,structural,or cyclical unemployment.
Statement II: When the unemployment rate falls below its natural rate,then inflationary wage pressure emerges.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Seasonal Unemployment
Unemployment resulting from the seasonal pattern of work in certain industries, with workers regularly laid off during the slow season and rehired during the busy season.
Unemployment Rate
The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment.
Natural Rate
The natural rate of unemployment is the level of unemployment consistent with a stable rate of inflation.
- Master the knowledge of the multiple forms of unemployment and their unique aspects.
- Understand the concept of the natural rate of unemployment and its significance for economic policy.
Verified Answer
CS
Learning Objectives
- Master the knowledge of the multiple forms of unemployment and their unique aspects.
- Understand the concept of the natural rate of unemployment and its significance for economic policy.