Consider the MPL is currently given by MPL=30/L. The supply of labor in the country is L=10. Consider that the current regulation requires a minimum real wage of 4. 1. What is the unemployment level ? What would be the unemployment level without the minimum wage? Is this a frictional or a structural unemployment?   2. Explain what frictional and structural unemployment are. Give some example and explain.

Q: Suppose the government proposes to increase the level of UI benefits for unemployed workers. A…

A: Answer- Given in the question - Suppose the government proposes to increase the level of UI benefits…

Q: Suppose an economist estimates, in Country X, the job separation rate be 4 percent while the job…

A: The natural rate of unemployment is that type of unemployment which exists when there is full…

Q: Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing…

A: Frictional unemployment occurs as employees want to leave their jobs in search of new ones or when…

Q: Assume the following for the town of Boone: The town has a total population of 50,000 people, of…

A: When an individual or group of people are able to do a job, looking for a job and are willing to…

Q: what happens to the natural rate of unemployment response to the following events? Explain 1. the…

A: The normal pace of joblessness addresses the least joblessness rate by which expansion is steady or…

Q: Which type of unemployment is not included in the natural unemployment rate? Why? Which phase of the…

A: Unemployment is characterized as a circumstance where an individual of working age can't find a new…

Q: • 4. At the peak of the Covid-19 pandemic, TURKSTAT announced that the unemployment rate fell to…

A: Fall in unemployment is as:- 12.8% from 13% Data is of April 2020

Q: At full employment, there are only frictional and...............unemployment

A: Full employment is a situation in which all those who are willing to work at the going wage rate is…

Q: The graph below shows domestic supply and demand for bushels of tomatoes in the U.S. Suppose that at…

A: In a market with free international trade, the total supply is the addition of the supply of…

Q: Exercise 3 Consider the MPL is currently given by MPL=30/L. The supply of labor in the country is…

A: Frictional unemployment: An individual is supposed to be frictional unemployed when a person…

Q: In response to the covid-19 pandemic, many governments responded by an economic stimulus package to…

A: The unemployment rate is the percentage of total number of people who are unemployed as a part of…

Q: Explain how frictional unemployment can be good for the economy.

A: Unemployment: - unemployment is that portion of the labor force that is able to do work and looking…

Q: ssume the following for the town of Boone: The town has a total population of 60,000 people, of…

A: Labor force= employed+ unemployed

Q: Vhen the actual unemployment rate is kely to fall below the natural rate of inemployment, we can…

A: Natural rate of unemployment refers to such unemployment rate that exist when the economy is in full…

Q: explain how  frictional unemployment could be a factor for the unemployment rate

A:

Q: The figure on the right shows the average monthly flows (in millions) between employment,…

A: Macroeconomic monitoring will remain critical since it determines the economy's final expansion path…

Q: Assume you have the following information about the unemployment rate among different groups in the…

A: