9
QuizMultiple Select

Investing and Financial Markets — Unit test

Question 9 • Personal Finance - EL3403

As a result of decreased production, David lost his job designing cars. Which terms can be used to describe David? Select two options.cyclically unemployeddomestically unemployedfrictionally unemployedstructurally unemployedstill employedunemployed

Answer
c
cyclically unemployed
d
domestically unemployed
f
frictionally unemployed
s
structurally unemployed
s
still employed
u
unemployed

Explanation

A drop in production is a slowdown in economic activity, so a worker who loses a job for that reason is cyclically unemployed. Since David no longer has a job, he is also unemployed. The information does not indicate that his skills or the structure of the industry changed, which would point to structural unemployment.

AI-written and checked against the verified answer.

Previous
Next