The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR. Concept Introduction: Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

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Answer 1

Question

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

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Please answer questions D-H, I have already answered A , B,C but it may help you to still solve them yourself. Thank you!

2. A firm’s production function is given by:Q = 10KLThe unit capital and labour costs are 2 and 1 pounds respectively. The firm is contracted to produce2000 units.(a) Write out the optimisation problem of the firm. (b) Express this problem using a Lagrangian function. (c) Find values of K and L which fulfil the contract with minimal cost to the firm. (d) Calculate the total cost to the firm.

3. Consider the following estimated regression equation, estimated using a sample of firms, where RDis total firm spending on research and development in USD ($), Revenue is total firm revenuein USD ($), and W ages is the firms’ total spending on wages in USD ($) (standard errors inparentheses):RDd = 1000(600)+ 0.5(0.1)Revenue + 1.5(0.5)W ages,(a) Interpret the coefficients on each of the explanatory variables. (b) Which of the three coefficients are statistically significant at the 5% level of significance? Howdo you know? A researcher runs a two-sided statistical test of the null hypothesis that both the coefficients onthe explanatory variables above are jointly equal to 0.25 (mathematically, that β1 = β2 = 0.25),and reports a p-value of 0.045.(c) What does this p-value mean for the outcome of the test? (d) What would an appropriate two-sided alternative hypothesis look like?

Answer 2

Question

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

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Answer 3

Question

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

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Answer 4

Question

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

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Answer 5

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

Answer 6

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

Answer 7

Chapter 8, Problem 1QFT

To determine

To explain: The way frictional unemployment is affected due to matching of job seekers and employers through services like Company TR.

Concept Introduction:

Frictional Unemployment: This kind of unemployment exists when the employed people leave their job in order to find a better one.This kind of unemployment is voluntary in nature.

Answer 8

Expert Solution & Answer

Answer to Problem 1QFT

Many of the already employed workers prefer to work as a freelancer with the advancement of technology.

The transformation of the market is possible by the matching online jobswith the service provided.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Few companies prefer to hire temporary worker instead of permanent ones, during the peak times. Therefore, the role of temporary staff is becoming important with time.

Many people stay unemployed every year, so these people can get temporary employment. Therefore, if this expanding of market is continued, then there will be riser in pool of workers.

When people use services provided by company TR, they will leave their old jobs to find a better replacement which takes time. This will lead to an increase in frictional unemployment.

Answer 12

Ch. 8 - Prob. 1QFT Ch. 8 - Prob. 2QFT Ch. 8 - Prob. 3QFT Ch. 8 - Prob. 1P Ch. 8 - Prob. 2P Ch. 8 - Prob. 3P Ch. 8 - Prob. 4P Ch. 8 - Prob. 5P Ch. 8 - Prob. 6P Ch. 8 - Prob. 7P

Answer to Problem 1QFT

Explanation of Solution

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