Lifeguards suffer from the "seasonal" type of, For 10 points, what phenomenon which occurs when people cannot find jobs?
Edmund Phelps suggested that this quantity becomes relatively constant over time in his NAIRU model. This quantity displays a negative relation with the total value of products produced in a given area according to Arthur Okun, and it is plotted against inflation in the Phillips curve. Workers who are in transition can be described by the "frictional" version of this phenomenon, and its other forms include the "cyclical" and "structural" types. Lifeguards suffer from the "seasonal" type of, For 10 points, what phenomenon which occurs when people cannot find jobs?
Edmund Phelps suggested that this quantity becomes relatively constant over time in his NAIRU model.
Unemployment