Question

Albert is looking for his first-ever summer job. Eleanor was laid off from the gold mine where she worked because of the decrease in demand for metals caused by a recession. Shen is looking for a job where he can utilize his recent master's degree as well as his previous job experience. Jim quit his part-time job to search full time for a job that more closely matches his educational experience. True or False: Cyclical unemployment can be negative. True False

Answer 1

True , Cyclical unemployment can be negative.

Explanation:

Cyclical unemployment may be negative as well — when the economy hits its productivity and will be in the economic growth cycle process (works outside its PPC), then cyclical unemployment will be negative. The current unemployment rate is below the standard rate of unemployment.

The given statements are different in each scenario.

There are three elements of employment:

• Structural unemployment, which happens when Jobless people are also not qualified to work

• Frictional unemployment, due to the time needed to find one another by job-seekers and accessible employers

• Cyclical unemployment, because of the status of the business cycle unemployment