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 Becky is a real estate agent. House sales in her area have declined because the region has been golng through a recession. She has no clients and Is currently looking for a new full-time job. Raphael left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Susan just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.3 Cyclical 0.0 Structural 1.0 Total unemployment 4.3 True or False: This economy is currently at its natural rate of unemployment. True False
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 Becky is a real estate agent. House sales in her area have declined because the region has been golng through a recession. She has no clients and Is currently looking for a new full-time job. Raphael left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Susan just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.3 Cyclical 0.0 Structural 1.0 Total unemployment 4.3 True or False: This economy is currently at its natural rate of unemployment. True False
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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