Bob is laid off his job because of a recession.O A. seasonalO B. frictionalC. structuralO D. cyclicalE. not counted

Answered: Bob is laid off his job because of a…

Business

Economics

Bob is laid off his job because of a recession. A. seasonal B. frictional O C. structural O D. cyclical E. not counted

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 6SCQ: Is the increase in labor force participation rates among women better thought of as causing an...

See similar textbooks

Related questions

Q: 4. The following schedule provides data for the country of Haha land. Year GDP (% change)…

A: A series of expansion and contraction in the economic activities like output, sales, income and…

Q: a. Why firms pay efficiency wage to their labor? b. According to efficiency wage model, how the…

A: Since you have asked multiple questions, we will solve the first-two questions for you. If you want…

Q: true of false and explain ? An economy sees its long-run unemployment rate increase from 5% to 12%…

A: The following problem has been answered as follows:

Q: equilibrium. IT e is a nevW economy is computer chip introduced which is 5x faster and 10x cheaper…

A: When the aggregate amount of output demanded equals the aggregate amount of output supplied, an…

Q: iF there is 3.C percent frictional usemplayment 4% Stre unemploy ment and the Actual Rale of…

A: Given Frictional unemployment = 3.5% Structural unemployment =4% Actual rate of unemployment = 6.5%…

Q: ou are an advisor to the Busines ng Committee. You are asked to conomic data to evaluate wheth has…

A: The potential output refers to the output level an economy can produce when it employs all its…

Q: s Cycle Theory explain the business cycle, and why do they object to government intervention to…

A: The theory in which fluctuations in the business cycle to a larger extent could be accounted for by…

Q: Explain with the support of graph(s), demand-pull and cost push inflation

A: The rate at which prices rise over time is referred to as inflation. Inflation is typically defined…

Q: c. d. A key question in macroeconomics is why the economy experiences business cycle fluctuati…

A: The ups and downs in the economy of the country is a result of business cycle.

Q: e. There is a tradeoff between inflation and unemploymet in the short run.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The largest inflationary gap appeared a) in the 1950s, during the great U.S. hyperinflation period.…

A: Inflationary gap is the gap between the actual aggregate demand and exist aggregate demand.

Q: c. Now that the macroeconomy is in a disequilbrium, what happens in the labor market? O A.…

A: If there's a rise in aggregate demand, like what's experienced during inflation, there'll be an…

Q: plete a table showing the unemployment rate, inflation rate and economic growth rate for 2009 18 for…

A: *Answer:

Q: The phase of the business cycle where economic activity is decreasing is called a) peak. O b)…

A: "Business cycles are a type of fluctuation found in the aggregate economic activity of nations.A…

Q: 00,000. She also anticipates there will b me inflation soon. der which of the following circumstance…

A: Patricia knows she will have to repay a debt $1000000. She also anticipates there will be some…

Q: A Phillip's curve is given by π = n + 10% - 2u, where n = π-1 and also Tt-12%. Calculate the natural…

A: Phillip's curve refers to a graphical representation that shows an inverse relationship between the…

Q: Based on the figure, which of the following statements is true? O The unemployment rate increased in…

A: GDP growth rate is calculated by taking the ratio of nominal GDP to the real GDP and multiplying it…

Q: If inflation rises unexpectedly by 5%, indicate for each of the following whether the economic actor…

A: Inflation refers to a general increase in the price level of goods and services, demanded by…

Q: and a trough In a business cycle, a peak represents the end of represents the end of Select one: a.…

A: In an economy, markets face changes in the Market conditions due to different phases of business…

Q: a. How does real wage influence the labor market that ever aggregate supply (LRAS) and short run…

A: The aggregate supply of a country is the total amount of goods and services it produces and sells.…

Q: Inflation refers to a(n) ---- in the overall Lütfen birini seçin: O A. increase; price level O B.…

A: Economics: It relates to the study of decision-making by humans in scarcity.

Q: Which of these are examples of positive real shocks? a Technological booms b, Higher jumps in oil…

A: Positive real shock either increases the demand or supply in the economy.

Q: Suppose that people expect inflation to be 3 percentbut that, in fact, prices rise by 5 percent.…

A: EFFECTS OF UNANTICIPATED INFLATION- A) Unanticipated inflation helps the economy, since the economy…

Q: 2. In the land of Genovia, the total population is 100,000. 55% of the population are below the age…

A: (a) People who are frictionally unemployed are those who are momentarily without a job because they…

Q: OR owth rate 10.9% 5.1% -3.2% 0.3% ployment rate 1.5% 3% 10.1% 7.2% on rate 6% 3.8% -1% 1.5% 4.…

A: The business cycle is the ups and downs of the economy wherein the output, employment as well as…

Q: What is short run relationship between inflation and unemployment

A: Unemployment refers to the situation where an individual who does not have a job, is looking for a…

Q: Economists use the Consumer Price Wholesale Price Asset Price Primary Producer The phase is a period…

A: The pace at which prices continue to rise over a certain amount of time is referred to as…

Q: Bob just graduated fro college and is looking for his first job. A. seasonal ) B. frictional C.…

A: Unemployment is a term referring to individuals who are employable and actively seeking a job but…

Q: If the natural rate of unemployment was 6%, the current unemployment rate was 8%, and the potential…

A: In economics, Okun's law provide information about the connection between the output growth and…

Q: Consider the following n -n natural rate of unemployment a = -a (u -u ). By how much does the…

A: The inflation rate can be defined as the rise in the price of goods and services of the economy.…

Q: GDP totaled 12.8 trillion. here was a -2.4 % change from 2008's GDP of 13.2 trillion. The…

A: With GDP in 2009 is -2.4 % less than GDP in 2008, the economy is experiencing contraction in…

Q: Stagflation occurs when the economy's are both high. Lütfen birini seçin: O A. unemployment rate and…

A: Stagflation is when the economic growth starts declining and inflation increases In other words,…

Q: What term do economists use to describe a tramer Who Is recession has temporarily reduced demand for…

A: Unemployment is a situation when a person is a part of the labor force but unable to find work.…

Q: a. Suppose that American households become more worried about the future, and they begin to save…

A: In an economy, if people become less confident about future, they tries to save some money that can…

Q: Which statement about business cycles in the United States is most accurate? Multiple Choice…

A: The economy of the United States alternates between periods of expansion, when employment and…

Q: Price level (GDP delflator, 2007 - 100) SAS SAS, LAS 240 SAS 200 D. 160 120 80 10 12 14 Real GDP…

A: Please find the answer below.

Q: Deflation refers to the increase in purchasing power, while Inflation refers to the decrease in the…

A: Deflation occurs when price of goods and services decreases over time. Inflation occurs when prices…

Q: When the overall level of prices in the economy is increasing, we say that the economy is…

A: The quantity theory of money establishes the direct relationship between the quantity or supply of…

Q: A macroeconomist would study O the price changes at K-Mart. O the cost problems at several airlines.…

A: Macroeconomics study the economy as a whole. It studies the different aspects that can affect the…

Q: Using Okun's Law how much GDP output is being forgone duc a 11% to thc increasc in uncmployment in…

A: Natural rate = 5 % Unemployment rate = 11 % According to the Okun's law, when unemployment…

Q: Bob wants to move to California so he quits his job. ) A. seasonal B. frictional ()C. structural O…

A: Unemployment is a term referring to individuals who are employable and actively seeking a job but…

Q: b. Explain in some detail the 4 phases of the business cycle, Please don’t include Depression as one…

A: Business Cycle: It refers to the fluctuation (rise or fall) in the economic trade that occurs over…

Q: If inflation rises unexpectedly by 5%, indicate foreach of the following whether the economic actor…

A: The general increase in the level of prices of services and goods or living standards in the economy…

Q: 25. While looking at an economic cycle you can find five different phases, respectively which will…

A: The cyclical movement of an economy as it swings from growth to recession and again is known as an…

Q: nflation rate, LRAS SRAS -2 3% 2% 18% 0% 12% 2% Real GDP growth rate 7) What level of inflation is…

A: Disclaimer: Since you have posted multiple questions, I am providing the answer to the first two…

Q: inflation is hectice problem of our economy especially in todays life. how this problem influances…

A: Inflation refers to an increase in prices of goods and services when we compare to previous year…

Q: Which of the following is not a phase or turning point of the business cycle? O A. recession B.…

Question

100%

Bob is laid off his job because of a recession.
O A. seasonal
O B. frictional
C. structural
O D. cyclical
E. not counted

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

a) If a country's natural unemployment rate is 5.5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? ___________percent Instructions: Enter the value for the output gap as an absolute number. b) According to Okun's law, this country would have (Click to select) a recessionary an expansionary output gap of _________percent.
a) If a country's natural unemployment rate is 5.5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? ___________percent Instructions: Enter the value for the output gap as an absolute number. (PLEASE ANSWER THIS PART B) b) According to Okun's law, this country would have an expansionary output gap of _________percent.
Assume the unemployment rate is 8.0%. Also, assume that the natural rate of unemployment is 5%. If frictional unemployment is twice that of structural unemployment, then how much is frictional unemployment? Expressed as a whole number: no percentage sign.
Part B Consider an economy that experiences an outflow of working age people and a decline in aggregatelabour supply as a result. Suppose the aggregate labour demand curve is not affected by this change.(a) Explain, with the aid of the labour-market-equilibrium diagram, how this will affect the equilibriumreal wage and the full-employment level of employment. (b) Explain, with the aid of three separate IS-LM-FE diagrams, how this will affect real output, realinterest rate and the general price level in three steps:(i) before the general price level adjusts;(ii) when the general price level is adjusting;(iii) after the price adjustment process is completed.Is the general price level increasing or decreasing during the price adjustment process? Explain theintuition of your answer with reference to the AD-AS framework.
A.) Okun's law is stated as... Change in the Unemployment Rate = -0.2*(Percent Change in Real GDP - 2.5) ... Then what is the expected annual growth rate of GDP? B.)Change in the Unemployment Rate = -0.2*(Percent Change in Real GDP - 2.5) ... If the percent change in GDP is 3%, and the unemployment rate starts at 5%, what is the change in the unemployment rate?
The CPI tracks the average change in prices of a basket of goods and services overtime, whereas the UNRATE is the percentage of the labour force that is unemployed.By examining the cointegration between these two variables, you can gain insightsinto the relationship between inflation and unemployment in the US economy. Thequarterly series is complete and seasonally adjusted. a) From a theoretical perspective, are these two series expected to becointegrated? Justify your answer. b)How do expectations about future economic conditions influence the speed ofadjustment? Are there any other factors that might affect the speed of adjustment?
Do you think perfect indexing is possible? Why or why not?
What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
Over the last century, during what periods was the U.S. inflation late highest and lowest?
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the CPI to convert from nominal to real would be more appropriate man using the GDP deflate:
Is the increase in labor force participation rates among women better thought of as causing an increase in cyclical unemployment or an increase in the natural rate of unemployment? Why?