Unemployment macroeconomics; please answer all components, thanks! Part 2: Practice- Identify if the following are most likely considered frictional unemployment (FR),structural unemployment (ST), cyclical unemployment (CY), or not counted in the labor force (NC).7.A full-time chef quits his job to find a part-time position8.A newspaper delivery driver loses his job as people buy fewer newspapers9.A full-time Uber driver stops driving passengers until she can buy a new car10.Airport security agents are laid off as a new scanning technology improves11.A fisheman loses his job when a recession causes a decrease in the demand forlobsters12.A current prison inmate asks her former employer for a job if she gets out of jailearly13.A retired police officer starts looking for a job working security at a local mall14.A part-time substitute teacher decides to stay at home to raise her kids15. Explain why "full employment does not mean 0% unemployment.

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Economics

Unemployment

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Unemployment macroeconomics; please answer all components, thanks!

Part 2: Practice- Identify if the following are most likely considered frictional unemployment (FR),
structural unemployment (ST), cyclical unemployment (CY), or not counted in the labor force (NC).
7.
A full-time chef quits his job to find a part-time position
8.
A newspaper delivery driver loses his job as people buy fewer newspapers
9.
A full-time Uber driver stops driving passengers until she can buy a new car
10.
Airport security agents are laid off as a new scanning technology improves
11.
A fisheman loses his job when a recession causes a decrease in the demand for
lobsters
12.
A current prison inmate asks her former employer for a job if she gets out of jail
early
13.
A retired police officer starts looking for a job working security at a local mall
14.
A part-time substitute teacher decides to stay at home to raise her kids
15. Explain why "full employment does not mean 0% unemployment.

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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