Indy worked for a major automobile manufacturer before the company relocated its factory to Malaysia, putting Indy out of a job. Indy continues to seek new employment, but will likely have to retrain or relocate to find a job. Based on this description, Indy is best described as:
Multiple Choice
not in the labor force.
structurally unemployed.
frictionally unemployed.
cyclically unemployed.
Change in industrial structure often leads to change in employments. Relocation of jobs to overseas is an example of structural unemployment.
Right answer: ( Structurally unemployed)
Indy worked for a major automobile manufacturer before the company relocated its factory to Malaysia, putting...
The demand for automobiles rises when the economy experiences an expansion. If an automobile manufacturer hires additional workers during an expansion, this would be best described as an example of a reduction in a) cyclical unemployment. b) natural unemployment. c) structural unemployment. d) frictional unemployment. When the Fed increases the rate of growth of the money supply to jump start the economy, the unemployment type that will be directly affected is the a) frictional unemployment. b) cyclical unemployment. c) structural...