Unemployment resulting from imperfect information in the labour market is called ____ unemployment?
Correct answer: A. Frictional
- A. Frictional
- B. natural
- C. real-wage
- D. disequilibrium
Explanation
Frictional unemployment arises while workers and employers search for suitable matches, often because information about vacancies or workers is incomplete. It is usually temporary and forms part of normal labour-market turnover.
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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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