select the correct answer\nwhich type of unemployment is defined as people losing their jobs because their…

select the correct answer\nwhich type of unemployment is defined as people losing their jobs because their skill is no longer in demand?\na. cyclical\nb. frictional\nc. rotational\nd. structural

select the correct answer\nwhich type of unemployment is defined as people losing their jobs because their skill is no longer in demand?\na. cyclical\nb. frictional\nc. rotational\nd. structural

Answer

Brief Explanations:

  • Cyclical unemployment occurs due to business - cycle fluctuations.
  • Frictional unemployment is when people are in between jobs (e.g., voluntarily leaving to find a better one).
  • Rotational is not a standard type of unemployment in economic theory.
  • Structural unemployment happens when there is a mismatch between the skills of workers and the skills demanded by the market (e.g., workers' skills are obsolete).

Answer:

D. structural