Question

7. (a) Among the four types of unemployment, identify the economically best type and explain why it’s the best. (b) Identify the economically most costly type of unemployment and explain why it’s the most costly. (c) What type of unemployment are workers most likely to experience after they have earned an MBA degree? Explain.

Answer 1

Answer 7 a: Frictional unemployment is a best type of unemployment in which they are taken time in searching a job or changing a one job over another.Fricitional unemployment is good for an economy as it provides various benefits associated with them.It is economically best as it provides various benefits associated with them.

b ) Structural unemployment is most costly type of unemployment because people are willing to work but they are not getting as either there is no job available or there is huge change in the skill or technology that the workers do not have. As structural unemployment has been created a problem of poverty as they are not able to fulfil there need and it's cost to an economy.

c ) After completing MBA degree the workers are searching for the best job that has been effective for there employment strategy and provides an effective as well as logical result.This type of unemployment is frictional unemployment.