6. Which of the following statements is correct? A. Frictional unemployment in Australia occurs because workers in the tourism industry are often under employed during winter. B. Trade liberalization involving a gradual shift towards free(r) trade and reducing trade barriers aiming to lift the efficiency of the public sector. C. Privatization and trade liberalization will definitely reduce the structural unemployment in the short run. D. Thousands of workers lose their jobs due to closure of an established business after 25 years. The business shut down due to very high and unsustainable costs of production. These job losses are an example of structural unemployment.
6. Which of the following statements is correct? A. Frictional unemployment in Australia occurs because workers in the tourism industry are often under employed during winter. B. Trade liberalization involving a gradual shift towards free(r) trade and reducing trade barriers aiming to lift the efficiency of the public sector. C. Privatization and trade liberalization will definitely reduce the structural unemployment in the short run. D. Thousands of workers lose their jobs due to closure of an established business after 25 years. The business shut down due to very high and unsustainable costs of production. These job losses are an example of structural unemployment.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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