Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical Deborah just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Janet. Carlos recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical Deborah just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Janet. Carlos recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

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 1
Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.
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David earned a salary of $43,500$43,500 in 1994 and $89,000$89,000 in 2010. The consumer price index was 148.2 in 1994 and 215.3 in 2010. David's 1994 salary in 2010 dollars is _.
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical Sean recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Cho. Yvette just graduated from college and is looking for a full-time position with an investment banking firm. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.1 Cyclical 0.0 Structural 1.0 Total unemployment 4.1 True or False: This economy is not currently at its natural rate of unemployment. O True O False
Robert applied for a job as a machine technologist. Due to his low level of skills in operating heavy duty machinery, Robert was not able to land the job. This type of unemployment is considered: Frictional Structural Seasonal Cyclical None of the above