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3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going. through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical cancer nded is con Structural Frictional Cyclical

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going. through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical cancer nded is con Structural Frictional Cyclical

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical services demanded is considerably lower in the new region, in part because of high union- negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of electrician jobs. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) 3.1 0.0 1.0 Frictional Cyclical Structural Total unemployment 4.1 Structural Frictional Q Cyclical O
Transcribed Image Text:3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical services demanded is considerably lower in the new region, in part because of high union- negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of electrician jobs. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) 3.1 0.0 1.0 Frictional Cyclical Structural Total unemployment 4.1 Structural Frictional Q Cyclical O
Unemployment Type Frictional Cyclical Structural Total unemployment True Rate (Percent) 3.1 0.0 1.0 True or False: This economy is currently at its natural rate of unemployment. False 4.1
Transcribed Image Text:Unemployment Type Frictional Cyclical Structural Total unemployment True Rate (Percent) 3.1 0.0 1.0 True or False: This economy is currently at its natural rate of unemployment. False 4.1
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