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Because of a reduction in demands for goods and services production and real GDP go down. As a result many people lose their jobs. These people who...

Because of a reduction in demands for goods and services production and real GDP go down. As a result many people lose their jobs. These people who lose their jobs are classified as:


Frictionally unemployed

Structurally unemployed

Cyclically unemployed

Not in labor force.

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Cyclical: Structural unemployment occurs when certain industries decline because of long term changes in... View the full answer

Frictionally unemployed Explanation-Frictional unemployment is the time period between... View the full answer

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