Of the three types of unemployment described, which one usually involves the least amount of hardship to the unemployed and the lowest cost to the government and to society as a whole? Cyclical unemployment Frictional unemployment Structural unemployment All types of unemployment are equal in this regard. b. For which of the three types of unemployment are job retraining programs and financial assistance for education most warranted? Cyclical unemployment Frictional unemployment Structural unemployment All types of unemployment are equal in this regard.

1)Frictional unemployment 2)Structural unemployment

Explanation:

Cyclical unemployment is caused by the phase in business cycle, when the demand for goods and services falls dramatically. Government intervention in terms of expansive monetary and fiscal policy is needed. Frictional unemployment occurs when workers leave their old jobs, but still haven't found new ones. It is short-termed and natural part of employment process. Structural unemployment happens when skills required by the employers don't match the ones workers have. It is usually caused by long recession.Structural unemployment, as workers need to adapt and acquire new skills in order to preserve their old jobs. For instance, when due to the process of automatization, workers now need to learn how to manage robots that replaced them at their workplace

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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