Question

structural unemployment can be caused by all of the following except: a) minimum wages. b) labor unions. c) efficiency wages. d) fluctuations in the business cycle.

Answer 1

Structural unemployment can be caused by all of the following except fluctuations in the business cycle.

What is Structural unemployment ?

Structural unemployment is long-lasting unemployment that comes about due to shifts in an economy.

Structural unemployment is caused by a mismatch of skills between the unemployed and available jobs. Structural unemployed is caused by changes in the economy, such as deindustrialization, which leaves some unemployed workers unable to find work in new industries with different skill requirements.

This type of unemployment happens because though jobs are available, there's a mismatch between what companies need and what available workers offer.

For example, employees who produce a specialty clothing product that suddenly is no longer a trend might lose their position producing this specific product, causing structural unemployment.

To learn more about Structural unemployment , refer

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