In response to the covid-19 pandemic, many governments responded by an economic stimulus package to mitigate the negative impact of the pandemic on affected families. Changes in economic policies will frequently have an impact on the unemployment rate. Explain whether each of the policy changes described is likely to: (1) affect frictional or structural unemployment and (2) increase or decrease the measured unemployment rate. a) An increase in the number of weeks of employment insurance that unemployed workers can receive. b) An increase in the minimum wage rate a) The government introduced new job-training programs to help people who lost their jobs in the affected sectors switch to other sectors.
In response to the covid-19 pandemic, many governments responded by an economic stimulus package to mitigate the negative impact of the pandemic on affected families. Changes in economic policies will frequently have an impact on the
a) An increase in the number of weeks of employment insurance that unemployed workers
can receive.
b) An increase in the minimum wage rate
a) The government introduced new job-training programs to help people who lost their jobs in the affected sectors switch to other sectors.
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