7. Types of unemployment In the following table, determine what type of unemployment best describes each situation. Stasia was a highly skilled instrument maker, but she hasn't been able to find work in the field since her workshop closed due to competition from instrument makers in China. Structural Unemployment Cyclical Unemployment Frictional Unemployment Latasha was laid off from the gold mine where she worked, because a recession caused a decrease in demand for metals. O O Charles quit his part-time job to search full time for a job that was more closely related to his education. O O O O Imagine an economy where the natural rate of unemployment is 4% and the cyclical rate of unemployment is 2%. In this economy the total rate of unemployment would be and the frictional rate of unemployment would be (Select ?% if the rate cannot be determined from the information given.) ?% OR 4% OR 2% OR 6% ?% OR 4% OR 2% OR 6%

7. Types of unemployment In the following table, determine what type of unemployment best describes each situation. Stasia was a highly skilled instrument maker, but she hasn't been able to find work in the field since her workshop closed due to competition from instrument makers in China. Structural Unemployment Cyclical Unemployment Frictional Unemployment Latasha was laid off from the gold mine where she worked, because a recession caused a decrease in demand for metals. O O Charles quit his part-time job to search full time for a job that was more closely related to his education. O O O O Imagine an economy where the natural rate of unemployment is 4% and the cyclical rate of unemployment is 2%. In this economy the total rate of unemployment would be and the frictional rate of unemployment would be (Select ?% if the rate cannot be determined from the information given.) ?% OR 4% OR 2% OR 6% ?% OR 4% OR 2% OR 6%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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