Suppose you find yourself laid off from your current job, and the best advice your economist gives you is that you should"retrain" and obtain new skills because your current skills are technologically obsolete. Ceteris paribus, it follows that youare most likely a victim ofunemployment.O a. frictionalO b. structuralOc. cyclicalO d. efficiency wageNext pagege

Unemployment is a situation referring to individuals who are able to work and actively seeking a job…

Answered: Suppose you find yourself laid off from…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Explain the difference between frictional unemployment and structural unemployment. Be sure to provide appropriate example of each.
Job search is the activity of looking for job. OA. a permanent full-time B. an acceptable vacant O C. a long-term OD. a well-paid
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1. Consider the classic competitive labor market. W S L DL Which of the following statements is most accurate? If the actual wage is stuck above the equilibrium wage (perhaps via labor contracts) and then increases further (with no shifts in demand and supply of labor), then the unemployment rate would increase. If the actual wage were stuck above the equilibrium wage, an increase in demand for labor (rightward shift) would make the unemployment rate go higher. If the actual wage is stuck above the equilibrium wage, the wage will tend to rise further once the stickiness of wages is gone (perhaps due to labor contracts being up for renewal. O None of the other options. ○ If the actual wage were stuck above the equilibrium wage, we would have a shortage of workers (excess demand for labor).
Answer the attached question
Look at this graph of real wage index in England between 1260 and 1800. Consider also that, in the bubonic plague of 1348 and 1351, between one quarter and one third of Europe's population died. M. Bubonic Statute of plague Labourers 140 100 1260 1348 1800 2000 100 40 Kett's rebellion Peasants Glorious Revolution rebellion 20 1260 1320 1380 1440 1500 1560 1620 1680 1740 1800 Select one or more: O a. According to the Malthusian model, the fall in the population due to the bubonic plague would have led to an increase in the average productivity of workers, causing the observed rise in the real wage post-plague. O b. The doubling and halving of the real wage index over 250 years from around 1350 cannot be explained by the Malthusian model. O C. The fall in the unskilled workers' share of total output in the 17th and. 18th centuries was due to the fall in their average product of labour. O d. In the Malthusian model, the rise in real wages from 1800 onwards, at the same time as the rise in…
Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for traditional ones, is known as: structural unemployment. O frictional unemployment. O underemployment. O cyclical unemployment.
When the economy is at full employment, which types of unemployment remain? A. frictional and cyclical B. frictional and structural C. cyclical and structural D. None of the above. Full employment means that there is no unemployment, so the unemployment rate would be zero. The "normal" underlying level of unemployment in the economy is O A. the sum of structural unemployment and frictional unemployment. B. the natural rate of unemployment. C. the full-employment rate of unemployment. O D. All of the above.
Data for an economy shows that the unemployment rate is 10%, the participation rate 75 percent, 200 million people ?16 years or older are not in the labor force. How many people are in the labor force in this economy إختر أحد الخيارات million 80 .a O million 200 b O million 600 .c O million 1,000 d O
Edgar is working part-time. Diane is on layoff. Who is included in the Bureau of Labor Statistics' "employed" category? Select one: O a. both Edgar and Diane O b. only Edgar O C. neither Edgar nor Diane O d. only Diane 4
The news article states that "Canadian youth and students are getting hit hard by this pandemic." In May 2020 the number of unemployed 15-24 year-olds was 1,710,900 and the 15-24 year-old labour force was 2,420,800. What was the unemploy te of youth? ne employment rate was D A. 41.6 percent O B. 13.7 percent OC. 29.4 percent O D. 24.1 percent
An economy has 95 million people employed and an unemployment rate of 5 percent. There are 1.5 million marginally attached workers and 0.5 million of the marginally attached workers are discouraged. How many people are unemployed? 3 tries left The number unemployed is O A. A. 5.5 million B. 7.5 million O c. C. 5.0 million O D. 6.5 million

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