Frictional unemployment is: Group of answer choices unemployment that is due to the friction of competing ideological systems

Economics Sep 07, 2020

Frictional unemployment is:

Group of answer choices

unemployment that is due to the friction of competing ideological systems.

unemployment caused by lack of training and education.

unemployment caused by automation in the workplace.

unemployment that is due to normal turnover in the labor market.

Expert Solution

The correct option is 4th "unemployment that is due to normal turnover in the labor market".

Frictional unemployment is unemployment that is due to normal turnover in the labor market. The frictional rate of unemployment refers to jobless people looking for work in a healthy economy. It is a part of the natural rate of unemployment.

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