minimum wages create unemployment in markets where they create aa. shortage of labor. unemployment of this type is called structural.b. surplus of labor. unemployment of this type is called frictional.c. surplus of labor. unemployment of this type is called structural.

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28-10-2022
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minimum wages create unemployment in markets where they create aa. shortage of labor. unemployment of this type is called structural.b. surplus of labor. unemployment of this type is called frictional.c. surplus of labor. unemployment of this type is called structural.

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SanofarAfrin SanofarAfrin · Answer 1 · 2022-11-01T18:58:15+01:00

The appropriate choice is option (c). Where minimal wages lead to a labor shortage, unemployment results. Structural unemployment is this kind of unemployment.

What exactly does structural unemployment mean?

Long-term unemployment caused by economic dynamics is referred to as structural unemployment. Even when there are open opportunities, there is a difference between what businesses require and what the available labor can provide.

For instance, individuals who make specialized clothing items that suddenly go out of style may lose their work as a result, leading to structural unemployment.

What may be the root of structural unemployment?

Technological advancements, a lack of skills, or the relocation of jobs elsewhere can all contribute to structural unemployment. Fiscal and monetary stimulus can lower cyclical unemployment.

What are the effects of structural unemployment on businesses?

A decline in participation rates may result from periods of significant structural unemployment. Employees are more prone to experience health issues and get discouraged and demotivated. As a result, individuals might quit their jobs, retire early, or be labeled as chronically ill.

Learn more about structural unemployment: https://brainly.com/question/14122987

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