Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

a. Bob and Tom are both frictionally unemployed.

b. Bob and Tom are both structurally unemployed.

c. Bob is frictionally unemployed, and Tom is structurally unemployed.

d. Bob is structurally unemployed, and Tom is frictionally unemployed.

Question

Messiah Chaney

Business

2 January, 04:14

Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

a. Bob and Tom are both frictionally unemployed.

b. Bob and Tom are both structurally unemployed.

c. Bob is frictionally unemployed, and Tom is structurally unemployed.

d. Bob is structurally unemployed, and Tom is frictionally unemployed.

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Answers (1)

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Audrina Jimenez · Answer 1

D. Bob is structurally unemployed, and Tom is frictionally unemployed.

Explanation:

Structural unemployment occurs when as a result of slight changes in the economic structure of a country that results in the mismatch of the skills workers have and the skills demanded by employees

On the other hand, Frictional unemployment occurs when people leave their present job or turn down job offers in other to find better jobs that will match their skills set. It is the period between the time that a worker left his former job and the time for getting a new job. Frictional unemployment may occur when graduate are looking for their first job or when a worker is looking for a more befitting job after quitting his previous job