Q5. Which of the following situations correspond to cyclical unemployment, structural unemployment, frictional unemployment and exit from the labor force, and why? a. Some of your friends just graduated from college and have 7.2 been looking for jobs for the past five weeks. b. Christine lost her job as a biologist at a biotech company when the whole industry went into recession. c. Gerhard, who used to be a taxi driver, stopped looking for a job three months after he lost his job.

Q5. Which of the following situations correspond to cyclical unemployment, structural unemployment, frictional unemployment and exit from the labor force, and why? a. Some of your friends just graduated from college and have 7.2 been looking for jobs for the past five weeks. b. Christine lost her job as a biologist at a biotech company when the whole industry went into recession. c. Gerhard, who used to be a taxi driver, stopped looking for a job three months after he lost his job.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following is an example of cyclical unemployment? A. Due to technological change, typewriter workers lose jobs and must retrain to find jobs in other industries. B. A student graduates from college and searches for a first job. C. Workers in the tourism industry in Maine are laid off during the winter. D. In an economic downturn, a manufacturing plant reduces production and temporarily lays off workers.
Bob tried to get a job for nine solid soul-sucking months of interviews, resumes, and failure. He never was able to get a job. Of course, he'd still like one, but he's exhausted and burned out. For the last several months, he's mostly sat on the couch and watched TV, not applying for jobs. As Bob moved from looking for a job to not looking, he unemployed and the labor force participation rate O is considered; rises is not considered; falls O is not considered; rises is considered; fall
Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.
Which of the following people would be considered frictionally unemployed? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a A member of Congress after their term ends and they are not re-elected b A high school student who stops working a summer job because of school starting C A taxi driver who loses their job because of the increasing popularity of Uber. d A person laid off from his job
Types of Unemployment Label the below statements with one of the following types of unemployment: Frictional Seasonal Cyclical Structural 1. 2. 3. 4. A nurse was not satisfied with her job in a hospital so she left the job to find a new job in a health clinic. Fred Flintstone was laid off from the Quarry because the nation is suffering from a recession. Cical A factory lays workers off from producing CDs due to demand changes to MP3 systems. Ronald McDonald, who just graduated from Clown School, is looking to find his first real job. Frictional 5. Every winter, brick layers in the north have no work. 6. Scooby Doo is looking for a job during the winter since Kings Island is closed until spring. Sea 7. Since graduating from law school, a woman waits to interview several firms before selecting a new job. 8. Paul Bunyan lost his job as a lumberjack because the timber company he works for decided to just buy chainsaws. Structural 9. An apple picker only finds work during the harvest…
If the cross-price elasticity of demand for good X with respect to good Y equals 0, how is that value interpreted? These goods are complements, and the quantity demanded of good X increases if the price of good Y decreases. These goods are unrelated, and a change in the price of good Y has no effect on the quantity of good X demanded. These goods are normal goods, and a change in buyers income increases the quantity demanded of good X. These goods are substitutes, and the quantity demanded of good X decreases if the price of good Y decreases.
Q4. Assess whether the following would be counted as unemployed or not unemployed in the Current Employment Statistics survey. Write next to the sentence if it’s: A. Not unemployed or B. Unemployed
part D E F
Unemployment rates have been higher in many European countries in recent decades than in the United States. Is the main reason for this long-term difference in unemployment rates more likely to be cyclical unemployment or the natural rate of unemployment? Explain briefly.
Answer it correctly with short explanation of each.
Explain any two causes of unemployment in the economy!