Unemployment that results when individuals who have voluntarily quite their jobs are seeking jobs is called
A) cyclical unemployment.
B) turnover unemployment.
C) mismatch unemployment.
D) natural unemployment.
B
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The fallacy of composition is the erroneous view that: a. an increase in the supply of money will cause a general increase in the level of prices
b. a small change in an economic variable will have an unrecognizable but significant effect on the economy. c. when two events are associated, the one observed first must have caused the second. d. if something is true for an individual, then it must also be true for a group.
Both new classical economists and monetarists disagree with Keynesians about the optimal degree of involvement of the government in determining the equilibrium level of real GDP
a. True b. False Indicate whether the statement is true or false