Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Question
Chapter 22, Problem 1.10P
Subpart (a):
To determine
Classify
Subpart (b):
To determine
Classify unemployment.
Subpart (c):
To determine
Classify unemployment.
Subpart (d):
To determine
Classify unemployment.
Subpart (e):
To determine
Classify unemployment.
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Students have asked these similar questions
In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed, or not in the labor force. Explain your answers.
Katy just graduated from a top law school and is currently deciding which law firm job offer she will accept
Perry lost his job as an assembly line worker at Chrysler during the recession.
Axl, an advertising executive in Seattle, quit his job one month ago to look for a more prestigious advertising job in NYC. He is still looking for a job.
Rose got laid off from her job as a financial analyst 3 months ago and has not looked for a new job since then.
Bob lost his job as a welder due to the introduction of robotic welding machines
Dylan quit her job as a hotel concierge to become a full-time student at a culinary school
Classify the following as frictionally unemployed, structurally unemployed or cyclically unemployed.
a. Fred finished his CDL training at Lehigh Career Technical Institute and spent three weeks looking for a job driving a truck.
b. Lisa Shneck, a private secretary was laid off from a law firm as her technical skills become obsolete.
c. Fred Myer was laid off from the K&K construction company during 2008-09 recession.
d. Mike Tyson is fired from Smuckers Company because he is being replaced by the robotic bottling units.
e. Bob Wilson recently graduated from the Department of Business at DeSales University and is looking for a Manager position in Lehigh Valley
Based on each of the following descriptions of an individual, answer whether they would be considered ‘unemployed’ or ‘not unemployed’.
why?
A 14-year-old is actively looking for a part time pet care job. He applied for three positions but received no responses.
A 40-year-old chef was made redundant and loses her job because of COVID-19 pandemic (lack of demand for consumption goods). She is looking for a new job but is struggling to find one.
Chapter 22 Solutions
Principles of Economics (12th Edition)
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