Question

5. A nation's frictional unemployment rate is 1%. Its cyclical rate of unemployment is 9.7%, and its structural

unemployment rate is 4 %. What is this nation's overall rate of unemployment?1 pt.

Answer 1

14.7%

Step-by-step explanation:

Frictional unemployment occurs when a person willingly quits his/her job in order to seek a better job.

Structural unemployment occurs when a person's skills do not fit the skills required by the firms that are hiring.

Cyclical unemployment results from a decrease in economic activity.