Suppose th ent prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not found a job. What would economists say about Michelle's situation? Select the correct answer below: Michelle is involuntarily unemployed. Michelle is voluntarily unemployed. Michelle is not in the labor force. Michelle's situation is an example of frictional unemployment. FEEDBACK
Suppose th ent prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not found a job. What would economists say about Michelle's situation? Select the correct answer below: Michelle is involuntarily unemployed. Michelle is voluntarily unemployed. Michelle is not in the labor force. Michelle's situation is an example of frictional unemployment. FEEDBACK
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose th
ent
prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but
seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not
found a job. What would economists say about Michelle's situation?
Select the correct answer below:
Michelle is involuntarily unemployed.
Michelle is voluntarily unemployed.
Michelle is not in the labor force.
Michelle's situation is an example of frictional unemployment.
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