Which of the following is not correct? a. Frictional unemployment is inevitable in a dynamic economy. b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead to higher productivity and higher living standards. c. At least 10 percent of U.S. manufacturing jobs are destroyed every year. d. More than 13 percent of U.S. workers leave their jobs in a typical month.

Which of the following is not correct? a. Frictional unemployment is inevitable in a dynamic economy. b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead to higher productivity and higher living standards. c. At least 10 percent of U.S. manufacturing jobs are destroyed every year. d. More than 13 percent of U.S. workers leave their jobs in a typical month.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section: Chapter Questions

Problem 6PA

See similar textbooks

Related questions

Q: For the following situations, identify the type of unemployment each represents. a.…

A: Cyclical unemployment occurs due to the business cycle in the economy . When there is a recession,…

Q: Economists use labor-market data to evaluate how well an economy is using its most valuable…

A: The unemployment rate is the percentage of unemployed people among the total labor force.

Q: 7. Libby: "The unemployment rate went up between May and June of 1991." Michael: "The number of…

A: Unemployment includes those people who are looking for jobs but are unable to secure them.…

Q: When the economy is at full employment, will the unemployment rate be 0%? Explain briefly When the…

A: ANS When an economy is at full employment then the economy is using its all available resources most…

Q: explain how technology advancement could be a factor for the unemployment rate

A: The most popular method for calculating a nation's unemployment is the unemployment rate. The…

Q: Discuss the type of unemployment that is associated with the business cycle.

A: The business cycle is the growth and decline in the periodic growth of the economy that is measured…

Q: Suppose the 2010 population census in Ghana indicated that there are 120,000 people in the country.…

A: Since you have posted multiple sub-parts, we are answering the first three sub-parts for you. If you…

Q: Suppose the unemployment rate in Economia is 8%, and there are 2 million unemployed persons in the…

A: Answer : 25

Q: According to the theory of efficiency wages,a. firms may find it profitable to pay above-equilibrium…

A: Theory of efficiency wages states that employees of your organization should be paid higher than the…

Q: Discuss natural unemployment and the factors influencing its level.

A: Unemployment refers to the condition of a person who is without a job and actively seeking…

Q: RSA has an influx of foreign nationals and the unemployment rate is increased drastically in RSA,…

A: Unemployment rate The unemployment rate basically refers to a proportion of the entire labor force…

Q: Unemployment rates are spread evenly over segments of the population in different education…

A: When an individual is not working and earning income, and do not have any job, then he is called…

Q: Explain any two causes of unemployment in the economy!

A: According to the given question In Simple words we can say that unemployment is generally known to…

Question

Which of the following is not correct?
a. Frictional unemployment is inevitable in a dynamic economy.
b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such
changes lead to higher productivity and higher living standards.
c. At least 10 percent of U.S. manufacturing jobs are destroyed every year.
d. More than 13 percent of U.S. workers leave their jobs in a typical month.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Let's explain statement A:

VIEW

Step 2: Let's explain statement A:

VIEW

Step 3: Let's explain statement C:

VIEW

Step 4: Let's explain statement D:

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 5 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Which of the following can result in a reduction of unemployment? A. Increased population growth B. Increase in demand for exports C. Reduction in labour intensity of production D. Increased immigration E. Decrease in government spending
In a country with a labor force of 200, a different group of 10 people becomes unemployed each month but becomes employed once again a month later. No others outside these groups are unemployed. EXPLAIN YOUR ANSWER!a. What is this country’s unemployment rate?b. What is the average duration of unemployment?c. Suppose that establishment of a system of unemployment compensation increases to twomonths the interval that it takes each group of job losers to become employed each month. Nevertheless, a different group of 10 people still becomes unemployed each month. Now what is the average duration of unemployment?d. Following the change discussed in part (c), what is the country’s unemployment rate?
What type of unemployment does each of the following represent? Explain your answers.1. Workers at a clothing factory lose their jobs when the firm relocates to another province.2. Workers at a factory making floppy disks lose their jobs when the firm goes under due to competition from USB’s.3. Migrant farm workers’ employment is terminated when the harvest is finished.4. Workers at the car plant are laid off as a result of a slump in motorcar sales. 5. Worker decides to resign from his firm to find himself, so he can follow his passion and apply for a different job in a near future.
Scenario: The unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. Who is considered part of the 6 percent of unemployed workers in Country Y? A. John, who is taking a year off to travel after college B. Amanda, who works 20 hours per week at a coffee shop but wants to work full time C. Peter, an engineer who became a stay - at - home husband after his start- up company went bankrupt, but he wants to find a new engineering job D. All of the above
Let's assume that the working-age population of a country B is 125 million and 60 million people are in the labor force. If 55.8 million people are considered employed, and 4.2 million are considered unemployed, what is the rate of unemployment in percentage?
With the information provided, determine the unemployment rate for cach of these hypothetical economies. a. Labour force = 22 million; number of people unemployed = 2.5 million; population = 46 million b. Number of people employed = 16 million; labour force = 18 million c. Number of people unemployed = 600,000; number of people employed = 2.24 million d. Labour force = 9.9 million; number of people unemployed = 600,000; population = 12.7 million a. The unemployment rate is percent. (Round your response to one decimal place.)
Structural unemployment is the unemployment that arises ____________. A. when wage rigidity creates a persistent gap between labor supply and labor demand. B. from workers' imperfect information about available jobs. C. during recessions when the unemployment rate is above the natural rate. D. from the average of the unemployment rates over an extended period of time.
Why is the unemployment rate never zero, even at full employment? The unemployment rate is never zero, even at full employment, because _______. A. there are always new workers entering the labor market to search for work, workers leaving one job to search for another job, and workers who have been laid off and are searching for another job B. there are always people without jobs because of family responsibilities such as caring for children or elderly parents C. people make lifestyle choices such as early retirement, gap years, and movements from high-stress to low-stress jobs D. cyclical unemployment is always present in the economy
Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment. a. Mariam just graduated from college and is looking for a job. (Click to select) b. A recession causes a local factory to lay off 30 workers. (Click to select) c. Thousands of bus and truck drivers permanently lose their jobs to self-driving vehicles. (Click to select) d. Hundreds of New York legal jobs permanently disappear when a lot of legal work gets outsourced to lawyers in India. (Click to select)
a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…
What is natural rate of unemployment? When do we say an economy has full employment? 2. Identify what type of unemployment will result from the following scenarios a. Jane has completed college and quit her job at Tim Horton so she can work full-time in her marketing field: b. The clothing store George used to work for was shut down as the clothing brand is now selling all its collection through its online website: c.The business Hank was working for had to shut down as there has been a decrease in overall demand in the economy:
2. Which of the following indicates that Mr. Ali lost his job because of the shutdown of an Airline office in Oman? a.Cyclical unemployment b.Classical unemployment c.Disguised unemployment d.Structural unemployment