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UNEMPLOYMENT, types of unemployme - Coggle Diagram
UNEMPLOYMENT
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cyclical unemployment
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illustrated by a leftward shift of the AD curve which results in a fall in national income and output
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frictional unemployment
imperfect information results in a time lag before job seekers find the right job or firms hire the right candidate
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definition: refers to the number of people of the legal working age who are willing and able to work but are unable to find suitable employment
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