4. Sectoral shifts, frictional unemployment, and job searches. TheSuppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania willdemand for labor among automobile-producing firms in Michigan, for which steel is an input, willThe temporary unemploymentunemployment.resulting from such sectoral shifts in the economy is best described asSuppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all thatapply.O Establishing government-run employment agencies to connect unemployed workers to job vacanciesO Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the governmentO Improving a widely used job-search website so that it matches workers to job vacancies more effectively

Blank 1. Decrease.The labor demand in Pennsylvania will decrease because the fall in the price of…

Answered: 4. Sectoral shifts, frictional…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which one of the following statements about the bargaining power of workers and the nominal wage is INCORRECT? (a) An increase in unemployment benefits may result in an increase in the nominal wage; (b) If workers expect prices to increase, they will bargain for a higher nominal wage; (c) The easier it is to replace a worker, the more bargaining power such workers have; (d) Given that labour is the only production factor used, an increase in the bargained nominal wage will not lead to an increase in the real wage.
Which of the following statements are FALSE, all else being equal? Choose TWO The better the unemployment benefits, the lower the natural rate of unemployment. The higher unemployment rate in Europe is due to their weaker labour unions. If the technology of job search improves, the natural rate of unemployment decreases. O If there is an influx of large number of working-age migrants, the natural rate of unemployment increases.
The Suppose the world price of tobacco falls significantly. The demand for labor among tobacco-producing firms in Kentucky will demand for labor among cigarette manufacturing firms in Virginia, which use tobacco as an input, will The temporary unemployment that results from sectoral shifts such as the ones describes above is best categorized as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks Increasing the benefits offered to unemployed workers through the government's unemployment insurance program Establishing government-run employment agencies to connect unemployed workers to job vacancies
Pablo used to work for a marketing firm. Although he liked his job, he had to resign because it took him too much time to commute to work. After resigning, he searched for a job, and within a month, he found a better job that was closer to his home. In the given scenario, the duration of Pablo's unemployment exemplifies Oseasonal unemployment O structural unemployment O frictionar unemployment Ocyclical unemployment
What type of unemployment do retraining programs seek to reduce? How might government-funded retraining influence the natural unemployment rate? Retraining programs seek to reduce the amount of _______ unemployment because _______. A. frictional; by giving workers the skills needed for the available jobs, people entering the labor force will immediately find employment B. cyclical; by giving workers the skills needed for the available jobs, recessions can be avoided C. structural; the programs aim to give workers the skills needed for the available jobs D. all types of; the natural unemployment rate will fall
19 If the economy is at full employment, which of the following is true? Group of answer choices There is no cyclical unemployment. There is zero unemployment. There is no structural unemployment. There is no frictional unemployment.
4. Consider the Keynesian Efficiency Wage Model.
4. Which of the following characterises that Mr. Salim lost his job due to heavy monsoon rains in Oman? a.Seasonal unemployment b.Technological unemployment c.Frictional unemployment d.Structural unemployment
No Plagirism Please! 15. Formulate reasons as to why a recession might occur. Then, hypothesize how total economic output and prices will behave in the years following the recession. 16. Explain the three main types of unemployment experienced within an economy. Provide at least one example demonstrating each type of unemployment
4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing firms in Texas will The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Taxing the price of placing a resume or posting a job opening on a job-search website O Extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government
The figure on the right shows the average monthly flows (in millions) between employment, unemployment, and non-participation for a hypothetical economy. According to the figure, the proportion of unemployed workers finding jobs in an average month is %. (Round your response to one decimal place.) U.S. data covering the 1996-2014 period show that the proportion of unemployed workers finding jobs has O A. an indeterminate relationship with the unemployment rate. OB. a strong inverse relationship with the unemployment rate. OC. a weak inverse relationship with the unemployment rate. OD. a strong positive relationship with the unemployment rate. Employment 165.8 million 1.9 4.7 2.6 1.7 5.3 Unemployment Out of the labor force 7.7 million 2.0 77.1 million G

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