Question

Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional...

Identify each person in the table as structurally, frictionally, or cyclically unemployed.

Unemployment Type

Structural

Frictional

Cyclical
Automobile demand has fallen during a recent recession, and Kate has been laid off from her job on the assembly line.
Eileen just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal.
Clancy left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs.

The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.

Unemployment Type

Rate

(Percent)
Frictional 3.0
Cyclical 0.0
Structural 1.0
Total unemployment 4.0

True or False: This economy is currently at its natural rate of unemployment.

True

False

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Kate is considered to be cyclically unemployed because the unemployment is the result of recession which happens due to business cycle movement

Eileen is considered to be frictionally unemployed because there is a temporary unemployment and she is looking for a new job

Clancy is definitely structurally unemployed because there are structural changes in the new location where her skills are not demanded

there is no cyclical component which means the economy is at its natural rate of unemployment. Hence it is true

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
[16] The three major macroeconomic problems are: A) debt, deficits, and taxation. B) unemployment, inflation, and...
[16] The three major macroeconomic problems are: A) debt, deficits, and taxation. B) unemployment, inflation, and taxation. C) unemployment, falling production, and deficits. D) unemployment, falling production, and inflation. [17] The economic term for a resource that is available for production but is not being utilized is: A) idle. B) wasted. C) inefficient. D) unemployed. [18] Being unemployed can: A) cause a person to alter spending patterns and lifestyle. B) affect a person's self-esteem and relationships with others. C) cause...
7. Natural Rate of Unemployment usually means Group of answer choices Zero unemployment, i.e. no frictional,...
7. Natural Rate of Unemployment usually means Group of answer choices Zero unemployment, i.e. no frictional, structural or cyclical unemployment. Some frictional and cyclical unemployment, but no structural unemployment. Some structural and cyclical unemployment, but no frictional unemployment. Some frictional and structural unemployment, but no cyclical unemployment. 8. Which of the following individuals would be considered structurally unemployed? Group of answer choices a fork lift operator who quit her job to look for a similar position with better working conditions...
4. State whether the following example is frictional, structural or cyclical unemployed. (2 marks) a. Zahra...
4. State whether the following example is frictional, structural or cyclical unemployed. a. Zahra lost her job because the economy slows down. b. Salman, a farmer who lost his job because of the introduction of new irrigation system. c. Hala quit her work and start looking for better one with better payment. d. Deema lostt her job in ABC supermarket because a decline in sales over the last quarter.
1. Frictional unemployment occurs when: a. workers do not have the skills demanded in labor markets....
1. Frictional unemployment occurs when: a. workers do not have the skills demanded in labor markets. b. there is inadequate demand for labor. c. workers leave one job to search for another. d. the number of unemployed workers exceeds the number of job vacancies. 2. Which of the following best describes an individual that is structurally unemployed? a. A new college graduate who is currently without a job but who has had several interviews that promise to result in job...
Which of the following items is a final good? a.   a. mustard in a deli b.  ...
Which of the following items is a final good? a.   a. mustard in a deli b.   b. tin purchased by a can company c.   c. a sweater purchased by someone in a department store d.   d. all of the above are correct Gordon James is a person who sells narcotics on the street. This type of illegal activity: a.   a. would be considered double counting in calculating GDP. b.   b. is estimated and included in GDP figures. c.   c. is...
8. What is the difference between being unemployed and being out of the labor force? 9....
8. What is the difference between being unemployed and being out of the labor force? 9. How do you calculate the unemployment rate? How do you calculate the labor force participation rate? 23. What forces create the natural rate of unemployment for an economy? 26. What is frictional unemployment? Give examples of frictional unemployment. 27. What is structural unemployment? Give examples of structural unemployment. 29. What type of unemployment (cyclical, frictional, or structural) applies to each of the following: a....
1. The amount of __________increases when the economy goes into a recession and decreases when the...
1. The amount of __________increases when the economy goes into a recession and decreases when the economy goes into an expansion. a. structural unemployment b. seasonal unemployment c. cyclical unemployment d. frictional unemployment 2. It is difficult for cyclically unemployed persons to find jobs because a. they typically do not meet the qualifications required for the available jobs. b. the economy is in a recession. c. they voluntarily quit their last jobs and employers may view them as unreliable. d....
29. The sustained decline in U.S. inflation rates over the past quarter century likely reflects all...
29. The sustained decline in U.S. inflation rates over the past quarter century likely reflects all of the following, except: (a) a combination of digitalization and technological advances that reduce production costs; (b) a weak U.S. dollar in foreign exchange markets; (c) more exact production processes; (d) globalization. 30. Which of the following statements is most true? (a) money supply increases cause bank reserves to decrease; (b) the Federal Reserve creates bank reserves through open market operations; (c) the Federal...
33. Monthly labor market reports issued by the Bureau of Labor Statistics primarily are based upon:...
33. Monthly labor market reports issued by the Bureau of Labor Statistics primarily are based upon: (a) initial claims for unemployment insurance reported by the 50 states; (b) the National Income and Product Accounts; (c) an Establishment Survey and a Household Survey; (d) data collected by each of the 12 Federal Reserve Banks. 34. In recent years, the labor force participation rate in the United States is closest to: (a) 45%; (b) 65%; (c) 85%; (d) 90%. 35. The top...
Please only answer the first question! The OECD is a club of the most advanced economic...
Please only answer the first question! The OECD is a club of the most advanced economic nations in the world – based on living standards and per capita income more than absolute size. Newer members include Turkey, Mexico and Hungary. China and India are not yet members despite their vast populations. Currently the OECD has 32 members. The 2009 OECD Employment Outlook discusses prospects for unemployment and possible policy responses. The evolution of unemployment depends on (a) the size of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT