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Canada (510,861)
Economics (1,617)
ECON 1BB3 (535)
Lecture 15

Lecture 15.docx

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Department
Economics
Course
ECON 1BB3
Professor
Hannah Holmes
Semester
Winter

Description
Lecture 15 Review: Why is there unemployment? - There are three types of unemployment: 1. Frictional unemployment o unemployment which exists in any economy due to people being in the process of moving from one job to another 2. Structural unemployment (mismatch between unwanted jobs and people looking to be hired. When quantity of labour supply is greater than the quantity of labour demanded) o unemployment resulting from industrial reorganization, typically due to technological
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