In this current recession, there are many cities with unemployment rates as high as 25% due to the loss of jobs across all sectors and industries. What is this type of unemployment called?
A)Sector deficient
B)Wage deficient
C)Supply deficient
D)Demand deficient

Question

Quizplus · Accepted Answer

This type of unemployment is called demand deficient.
Key Takeaway: Demand deficient unemployment is caused by a general reduction of demand across all industries and sectors. A widespread recession is one example in which a general lack of demand for workers occurs.

In This Current Recession, There Are Many Cities with Unemployment