In the fall of 2012, more than three years after the end of the recession, the unemployment rate remained just below 8% and nearly half of the unemployed had been out of work for at least six months
Unemployment had been so high for so long, that many economists had begun speaking of the "new normal", in which unemployment rates might be stuck at higher levels for many years. If this "new normal" does materialize, these higher unemployment rates would most likely be the result of ________ unemployment. A) frictional
B) cyclical
C) structural
D) seasonal
C
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An increase in the money supply will immediately __________ the __________ interest rate, according to the "liquidity effect."
A) raise; natural B) raise; nominal C) lower; natural D) lower; nominal
If your income increases from $40,000 to $48,000 and your consumption increases from $35,000 to $39,000 . your marginal propensity to consume (MPC) is:
a. 0.20. b. 0.40. c. 0.50. d. 0.80. e. 1.00.