Types of unemployment .

Question

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Answer 1

Question

Chapter 28, 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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Students have asked these similar questions

The following policies have at times been advocated for coping with unemployment. Briefly explain how each might work and explain which type or types of unemployment (frictional, structural, or cyclical) each policy is designed to alter.a. A computer list of job openings and a service that matches employees with job vacancies (sometimes called an “economic dating service”)b. Lower minimum wage for teenagersc. Retraining programs for workers who need to learn new skills to find employmentd. Public employment for people without jobse. Improved information about available jobs and current wage ratesf. The president’s going on nationwide TV and attempting to convince firms and workers that the inflation rate next year will be low

Suppose that Julie is laid off because she works at the last automobile manufacturer in Virginia, which has just closed. Julie makes $30 per hour because of her skills in auto making. However, the closest places Julie can relocate to which require that skill are Texas, Mississippi, or Michigan. Because she takes care of her elderly mother, she cannot move. Which of the following types of unemployment is she experiencing?Give reason Group of answer choices Frictional unemployment Cyclical unemployment Structural unemployment Demand-pull unemployment

Describe the different types of unemployment. Explain the type(s) of unemployment the U.S. experiences when the economy is (a) in the boom, (b) in the recession, and (c) during unprecedented times, such as natural disasters, pandemics, or war. Describe the impacts of unemployment benefits on unemployment. Identify a period of high unemployment and the government policies used to fight unemployment. Explain if the policies were effective in fighting unemployment. Describe how you would address unemployment.

Answer 2

Question

Chapter 28, 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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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 28, 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 28, 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 28, 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 28, 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 28, 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.