Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 6.2, Problem 1ST
To determine
The difference between structural and frictional
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Chapter 6 Solutions
Macroeconomics (Book Only)
Ch. 6.1 - Prob. 1STCh. 6.1 - Prob. 2STCh. 6.1 - In year 1, your annual income is 45,000 and the...Ch. 6.2 - Prob. 1STCh. 6.2 - Prob. 2STCh. 6 - Prob. 1VQPCh. 6 - Prob. 2VQPCh. 6 - Prob. 3VQPCh. 6 - Prob. 4VQPCh. 6 - Prob. 5VQP
Ch. 6 - Prob. 1QPCh. 6 - Prob. 2QPCh. 6 - Prob. 3QPCh. 6 - Prob. 4QPCh. 6 - Prob. 5QPCh. 6 - Prob. 6QPCh. 6 - Prob. 7QPCh. 6 - Prob. 8QPCh. 6 - Prob. 9QPCh. 6 - Prob. 10QPCh. 6 - Prob. 11QPCh. 6 - Prob. 12QPCh. 6 - Prob. 13QPCh. 6 - Prob. 14QPCh. 6 - Prob. 1WNGCh. 6 - Prob. 2WNGCh. 6 - Prob. 3WNGCh. 6 - Prob. 4WNGCh. 6 - Prob. 5WNGCh. 6 - Prob. 6WNGCh. 6 - Prob. 7WNGCh. 6 - Prob. 8WNGCh. 6 - Prob. 9WNGCh. 6 - Prob. 10WNG
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- How can an absence of employing opportunities contribute to high unemployment rates?arrow_forwardWhat are the possible effects of a high unemployment rate on a country's economy?arrow_forwardWhen you lose your job looking due to bad economic times and there are few jobs available you are become Frictionally unemployed Cyclically unemployed Structurally unemployed Seasonally unemployedarrow_forward
- 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 schoolarrow_forwardWhich is better? To have eight people unemployed each for one month To have one person unemployed for eight months Explain.arrow_forwardA country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed. On the basis of these data, answer the following questions. What is the size of the labor force? What is the unemployment rate?arrow_forward
- Between January 2010 and January 2016, U.S. employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each other? Why might one expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed?arrow_forwardThe three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Demand for new vehicles has fallen during a recent recession, and Alyssa has been laid off from her job at an automotive factory. Rosa just graduated from college and is looking for a full-time position with an investment banking firm, Nick recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local emplayers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Frictional Cyclical Structural Total unemployment Rate (Percent) 3.1 0.0 1.0 4.1…arrow_forwardA country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed. On the basis of these data, answer the following questions. What is the natural rate of unemployment for this country? Is this economy in recession or expansion? Explain.arrow_forward
- What would happen to the measured unemployment rate if individuals who had previously left the labor force returned and began searching for a job?arrow_forwardUnder what condition would an increase in the unemployment rate be a positive sign?arrow_forwarda ) Marie recently graduated from college with a degree in electrical engineering, but she has not yet started working. When will she be counted as “unemployed” according to the BLS? b) Eric was laid off, but he is expecting to be recalled. He has not looked for work since being laid off. Natalie is not employed, nor was she laid off. Who is counted as “unemployed” in the U.S. labor force statistics? c) What are the four different types of unemployment? Explain each.arrow_forward
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