Principles of Economics (Second Edition)
2nd Edition
ISBN: 9780393614077
Author: coppock, Lee; Mateer, Dirk
Publisher: W. W. Norton & Company
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Question
Chapter 20, Problem 1QFR
To determine
To explain:
The two types of
Expert Solution & Answer
Explanation of Solution
With the growing economy, frictional and structural unemployment can be seen.These are also called as natural unemployment. When an individual offers obsolete services to their employer, it is a situation of structural unemployment.
- Workers do not get work according to their qualification, and
- Employers do not find enough workers.
Other unemployment is frictional unemployment in which unemployment is caused by delay in time in matching the jobs to workers.
Economics Concept Introduction
Unemployment:
The situation when a person is willing to work but does not get a job is called as unemployment. The number of persons unemployed divided by individuals who form labor force currently is the way by which unemployment is calculated. Rate of unemployment increases during recession.
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Chapter 20 Solutions
Principles of Economics (Second Edition)
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