Caren, a professional photographer for a magazine, loses her job during a recession in the economy. This is an example of: structural unemployment. seasonal unemployment. frictional unemployment. cyclical unemployment. OCT 20
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- Suppose that the natural rate of unemployment is 5% and the actual rate of unemployment is 5%. Cyclical unemployment is equal to (%)Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called structural unemployment .frictional unemployment .the natural rate of unemployment .cyclical unemployment bOHere is some data for an economy. Population: 22.5 million Population under the age of 16 years: 7.5 million Discouraged workers: 250,000. Retired people: 1 million Structurally unemployed people: 320,000 Frictionally unemployed people: 220,000 Cyclically unemployed people: 2.2 million Based on this data, what is the approximate unemployment rate in this economy? Answers: 16% 19.6% 19.93% 80.07%
- Please explainAt full employment there is no structural unemployment. unemployment. frictional unemployment. avoidable unemployment. cyclical unemployment.Even an economy that is operating at peak efficiency will have a positive unemployment rate. Economists call this "full employment". Full employment is also known as The natural rate of unemployment frictional unemployment cyclical unemployment Structural unemployment
- Describe the natural rate of unemploymentSuppose a country has a working-age population of 200 million, with 6.82 million unemployed and 117.18 million employed. The country's labor force participation rate is and the unemployment rate isAssume the following for the town of Boone: The town has a total population of 60,000 people, of which 2,000 are under 16 years of age or are institutionalized; 4,000 are full-time students who are not employed and are not seeking work; and 50,000 are employed. The rest of the people are out of work but have been actively seeking work within the past four weeks. What is the unemployment rate in Boone? Instructions: Round your answer to 1 decimal place. percent