5. Match each concept in Column A with a definition or example in Column B. Column A Column B a. “Not in the labor force" 1. The theory that unemployment is caused by insufficient aggregate demand b. Worker cooperatives 2. Occurs during a recession c. Marginally attached workers d. Frictional unemployment 3. An example of an employment flexibility policy 4. Occurs when the skills, experience, and education of workers do not match job openings e. Employed 5. For-profit businesses owned and run by businesses f. Trade Adjustment Assistance Reform Act 6. Immediately available for and currently looking for paid work g. Unemployed h. “Sticky wages" 7. Military personnel 8. A policy response to structural unemployment i. Structural unemployment 9. Worked 15 hours or more in a family business j. Keynesian theory 10. Occurs as people move between jobs k. Cyclical unemployment 11. Want to work and have looked in the past year but not the past month 1. Not included in the house- 12. Unemployment may occur because wages are hold survey covering employment m. Technological unemployment slow to fall 13. Occurs when technology reduces the overall need for workers n. Paid parental leave 14. A retired person

5. Match each concept in Column A with a definition or example in Column B. Column A Column B a. “Not in the labor force" 1. The theory that unemployment is caused by insufficient aggregate demand b. Worker cooperatives 2. Occurs during a recession c. Marginally attached workers d. Frictional unemployment 3. An example of an employment flexibility policy 4. Occurs when the skills, experience, and education of workers do not match job openings e. Employed 5. For-profit businesses owned and run by businesses f. Trade Adjustment Assistance Reform Act 6. Immediately available for and currently looking for paid work g. Unemployed h. “Sticky wages" 7. Military personnel 8. A policy response to structural unemployment i. Structural unemployment 9. Worked 15 hours or more in a family business j. Keynesian theory 10. Occurs as people move between jobs k. Cyclical unemployment 11. Want to work and have looked in the past year but not the past month 1. Not included in the house- 12. Unemployment may occur because wages are hold survey covering employment m. Technological unemployment slow to fall 13. Occurs when technology reduces the overall need for workers n. Paid parental leave 14. A retired person

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 5
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please answer question C & D
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Labour supply Wage-setting curve Average product of labour B Price-setting curve N. N. Employment, N The figure depicts the labour market when there has been a negative aggregate demand shock. Which of the following statements are correct? a. The derived demand for labour is Nx at X, and is Ng at B. b. The demand-deficient unemployment at B is NL - Ng. c. The equilibrium level of unemployment is N - Ng. d. N - Nx and N - Ng are the levels of involuntary unemployment at X and B, respectively. Real wage