Types of unemployment .

Question

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Answer 1

Question

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

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Tasks Exercise 1 Assess the following functions: 1. f(x)= x2+6x+2 2.f '(x)=10x-2x2+5 a. Find the stationary points. (5 marks) b. Determine whether the stationary point is a maximum or minimum. (5 marks) c. Draw the corresponding curves (5 marks)

Problem 2: The sales data over the last 10 years for the Acme Hardware Store are as follows: 2003 $230,000 2008 $526,000 2004 276,000 2009 605,000 2005 328,000 2010 690,000 2006 388,000 2011 779,000 2007 453,000 2012 873,000 1. Calculate the compound growth rate for the period of 2003 to 2012. 2. Based on your answer to part a, forecast sales for both 2013 and 2014. 3. Now calculate the compound growth rate for the period of 2007 to 2012. 1. Based on your answer to part e, forecast sales for both 2013 and 2014. 5. What is the major reason for the differences in your answers to parts b and d? If you were to make your own projections, what would you forecast? (Drawing a graph is very helpful.)

Exercise 4A firm has the following average cost: AC = 200 + 2Q – 36 Q Find the stationary point and determine if it is a maximum or a minimum.b. Find the marginal cost function.

Answer 2

Question

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

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Answer 3

Question

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

Answer 6

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Answer 7

Chapter 13, Problem 1.1P

Sub part (a):

To determine

Types of unemployment.

Answer 8

Sub part (a):

Expert Solution

Explanation of Solution

This policy helps to matches employees with job vacancies. Therefore it is beneficial to reduce the frictional unemployment in an economy by helping employers and workers find each other. So the time spends for job hunting reduced.

Answer 9

Sub part (a):

Expert Solution

Answer 10

Sub part (a):

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Concept introduction:

Frictional unemployment: Frictional unemployment: Frictional unemployment refers to the unemployment that arises due to the individual person changing from one job to another.

Answer 13

Sub part (b):

To determine

Types of unemployment

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 14

Sub part (b):

To determine

Types of unemployment

Answer 15

Sub part (b):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy. Because a lower minimum wage for teenagers is profitable to hire workers. Who would otherwise not be productive enough to employ. However, in some extent teenage workers might be substituted for existing workers, thus lessening the impact on unemployment.

Answer 16

Sub part (b):

Expert Solution

Answer 17

Sub part (b):

Expert Solution

Answer 18

Expert Solution

Answer 19

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 20

Sub part (c):

To determine

Types of unemployment

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 21

Sub part (c):

To determine

Types of unemployment

Answer 22

Sub part (c):

Expert Solution

Explanation of Solution

This policy helps to reduce the structural unemployment in an economy, because it providing the skills needed to the workers to work in a new or expanding industries.

Answer 23

Sub part (c):

Expert Solution

Answer 24

Sub part (c):

Expert Solution

Answer 25

Expert Solution

Answer 26

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 27

Sub part (d):

To determine

Types of unemployment

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 28

Sub part (d):

To determine

Types of unemployment

Answer 29

Sub part (d):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, although it can be also treated as a policy to reduce the structural unemployment, if the government was willing to maintain the policy, because it providing the public employment for people without jobs.

Answer 30

Sub part (d):

Expert Solution

Answer 31

Sub part (d):

Expert Solution

Answer 32

Expert Solution

Answer 33

Economics Concept Introduction

Concept introduction:

Structural unemployment: Structural unemployment refers to the unemployment which occurs due to the mismatch between the skills that the workers offer and skills that the employers demand.

Answer 34

Sub part (e):

To determine

Types of unemployment.

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Answer 35

Sub part (e):

To determine

Types of unemployment.

Answer 36

Sub part (e):

Expert Solution

Explanation of Solution

This policy helps to reduce the frictional unemployment in an economy by providing information about current jobs and existing wage rates. Thereby people can reduce the time spend for job hunting.

Answer 37

Sub part (e):

Expert Solution

Answer 38

Sub part (e):

Expert Solution

Answer 39

Expert Solution

Answer 40

Economics Concept Introduction

Concept introduction:

Frictional unemployment: This is a type of unemployment existing in an economy due to the movement of people from one job to another.

Answer 41

Sub part (f):

To determine

Types of unemployment

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.

Economics Concept Introduction

Concept introduction:

Cyclical unemployment: This is a type of unemployment existing in an economy due to the regular ups and downs within the business cycle.

Answer 42

Sub part (f):

To determine

Types of unemployment

Answer 43

Sub part (f):

Expert Solution

Explanation of Solution

This policy is helpful to reduce the cyclical unemployment in an economy, by encouraging workers to accept relatively small increases, means relatively more of them will be hired.