Asked by Li-Yun Chang on Jun 09, 2024
Verified
Structural unemployment results from
A) changes in business inventories.
B) changes in interest rates.
C) changes in both technology and the changing demand for products.
D) all of the choices/statements are true.
Structural Unemployment
Unemployment resulting from industrial restructuring, technological changes, or other long-term factors, affecting the structure of the labor market.
Technology Changes
Refers to the ongoing advancements and innovations in technology that affect various aspects of society, including how people work, communicate, and consume.
Product Demand
The desire and ability of consumers to purchase a particular good or service at various prices during a specific time period.
- Understand the concept of structural unemployment and its causes.
Verified Answer
WG
Westside GeminiJun 09, 2024
Final Answer :
C
Explanation :
Structural unemployment occurs due to changes in technology and demand for products, which affect the skills required in the workforce. This can lead to a mismatch between the skills of workers and the skills needed by employers, resulting in unemployment. Business inventories and interest rates may affect overall economic conditions, but they do not directly cause structural unemployment.
Learning Objectives
- Understand the concept of structural unemployment and its causes.