Asked by Nabin Adhikari on Jun 18, 2024
Verified
A worker who loses a job at a petroleum refinery because consumers and business firms switch from the use of oil to natural gas is an example of
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) disguised unemployment.
Structural Unemployment
A form of unemployment caused by fundamental changes in the economy that reduce the demand for certain skills or labor.
Petroleum Refinery
A processing plant where crude oil is transformed into various usable petroleum products such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas.
Oil to Natural Gas
The transition or conversion from using oil as a primary energy source to using natural gas, often due to environmental, economic, or supply considerations.
- Gain insight into the idea of structural unemployment and the factors leading to it.
Verified Answer
HC
Heidi CasianoJun 19, 2024
Final Answer :
B
Explanation :
This is an example of structural unemployment, which is caused by changes in the structure of the economy, such as shifts in consumer demand or changes in technology. In this case, the shift from oil to natural gas is a structural change that results in workers in the oil industry becoming unemployed.
Learning Objectives
- Gain insight into the idea of structural unemployment and the factors leading to it.