Which of the following represents frictional unemployment? i) the demand for refrigerators falls when the economy enters a recession, and refrigerator manufacturers lay off some of their workers. ii) general motors decides to close its u. s. factories and relocate its car manufacturing division to canada. iii) you tire of working as a waiter and quit. now you are searching for work as an actor. iv) juan's fishing business can't cover its costs, so it closes. juan is now looking for a new job.

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Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan