Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
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Chapter 8, Problem 2CQ
To determine
Identify the reason for the efficient functioning system that will have some unemployed resources.
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How many fewer workers would have been unemployed?
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If the number of unemployed stays the same and the number of people in the labor force declines
Why there is always some level of unemployment?
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Economics: Private and Public Choice
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- When a recession hits, should the government take strong steps to get the economy going again and put the unemployed back to work?arrow_forwardExplain how unemployment changes over the business cycle. Why do these changes occur?arrow_forwardExplain how a government might tackle structural unemployment.arrow_forward
- What could explain why unemployment is lower among workers with a relatively higher level of education and training?arrow_forwardWhich of the following is most likely to lead to shorter durations of being unemployed? Select one: a.Flexible labour markets. b.Minimum wage laws. c.Extensive redundancy provisions written into law. d.The existence of an unemployment benefit.arrow_forwardThe restructuring of the economy has caused the disappearance of manufacturing jobs. True or false? Explain?arrow_forward
- What term describes the remaining level of unemployment that occurs even when the economy is healthy?arrow_forwardName two jobs that you think would be affected by seasonal unemployment. Explain why they would be affected.arrow_forwardShould the government replace the wages of anyone who is unemployed? How might this affect output and unemployment?arrow_forward
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