Multiple Choice
Reflecting the state of the economy in 2008, the Bureau of Labor Statistics reported in October that over 1000 jobs were lost in the legal services sector. For example, one firm in Chicago stated that it had fired 54 lawyers in 2008. A representative from the firm stated that most had worked in its real estate division.
The lawyers that were fired are an example of unemployment.
A) efficiency wage
B) frictional
C) cyclical
D) structural
Correct Answer:
Verified
Correct Answer:
Verified
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