Can frictional unemployment ever be totally eliminated? Explain your answer
What will be an ideal response?
Frictional unemployment arises from normal labor market turnover. Because this type of unemployment is associated with normal changes, it is impossible to be eliminated. Indeed, some frictional unemployment is purely voluntary, with these unemployed workers choosing to become unemployed because they expect to find a job that is more satisfying.
You might also like to view...
The concept of marginal productivity is applicable to
a. all of the following b. capital c. entrepreneurial talent d. land e. labor
Which of the following terms depends on people re-depositing the money that they receive in the banking system?
a. Money multiplier b. Savings and loan c. Central bank d. The creation of money
Which of the following is not a direct determinant of net export spending?
A. Domestic income. B. Interest rates. C. Exchange rates. D. Foreign income.
In the long run, the perfectly competitive firm
A. earns an economic profit. B. earns only a normal profit. C. does not have a shut down price. D. may produce even if it suffers a loss.