The demand for ice-cream is lower outside of summer causing lower demand for ice-cream salesman if they cannot find other work, this is called _______ unemployment?
Correct answer: C. seasonal
- A. Regional
- B. structural
- C. seasonal
- D. demand-deficient
Explanation
Seasonal unemployment occurs when demand for certain work changes predictably during the year, as with ice-cream sales outside summer. Structural unemployment instead results from a mismatch between workers’ skills and available jobs.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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