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Comment on the concerns of the Big Banks and the nature of the recession on the labor force
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- The change in the business cycles can impact how the economy is operating. Explain how an increase in the unemployment rate would impact how businesses will operate. Analyze how economic growth can be impacted by changes in the unemployment rate.When Rachel was a teenager, growing up in the 1980’s, she dreamed of one day taking over her parents’ record store business. In the year 2000, her parents’ record store, along with countless others, closed down because people preferred to buy digital music online. The people who lost their jobs in the record stores are considered: Question 26 options: a) seasonally unemployed b) frictionally unemployed c) structurally unemployed d) cyclically unemployedMatch the letter from A to D to the (text) that apply ( ) people who are out of work for relatively long periods of time (due to technological or economic displacement or lack of skills) ( ) people who are out of work only during certain times of the year ( ) people who are out of work due to a downturn in the business cycle ( ) people who are between jobs or just entering the labor market A.Frictional Unemployment B.Structural Unemployment C.Cyclical Unemployment D.Seasonal Unemployment
- Explain how an increase in the unemployment rate would impact how businesses will operate. Analyze how economic growth can be impacted by changes in the unemployment rate.The restructuring of the economy has caused the disappearance of manufacturing jobs. True or false? Explain?Explain what would happen to unemployment and output in the short run if job support payments (both Jobseeker and Jobkeeper) were switched off.
- What is the macroeconomic cost of unemployment? social stress inflation national production decreases increased national debtIn the beginning of a recovery after a recession, employment begins to rise and the news media report these data on job growth. a) would such a report have an impact on the labor force ? b) how would it effect the unemployment rate?In the short-run, some costs are flexible and others, such as labor, are rigid. What does the rigidity in labor markets create? Which type/source of unemployment does this affect?