Practice Quiz

Case Interview Prep

Category - Economics

Start a Study Session Sign up for Question of the Day
Jason and his graduating college class of 2009 spent, on average, 4.5 months in finding appropriate jobs that match their individual skills and interests. During this average time of searching, what is this type of unemployment referred to:
  1. dynamic
  2. frictional
  3. static
  4. natural
Explanation
Answer: B - This is referred to frictional unemployment.

Key Takeaway: Frictional unemployment refers to the period of unemployment that it takes for a worker to be matched to a job. The length of frictional unemployment depends on a number of factors including the economic environment, labor supply, and the worker’s skills and training.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz