In a rapidly growing economy a change in techno... - WAEC Economics 2006 Question
In a rapidly growing economy, a change in technology which is labour saving is likely to cause
A
residual unemployment
B
structural unemployment
C
disguised unemployment
D
frictional unemployment
correct option: b
The concept of structural unemployment, a lasting level of joblessness that does not disappear even at the high point of the business cycle, became popular in the 1960s. For pessimists, technological unemployment is one of the factors driving the wider phenomena of structural unemployment. Since the 1980s, even optimistic economists have increasingly accepted that structural unemployment has indeed risen in advanced economies, but they have tended to blame this on globalization and offshoring rather than technological change
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