In each of the following cases, classify theperson as cyclically unemployed, structurallyunemployed, frictionally unemployed or not in thelabour force.Firm 1 buys outFirm 2 and laysoff Firm's 1administrativestaff.As productionprocessesbecome moresophisticated,people wholeave schoolwithout CXCsubjects areunable to findemployment.Worker 3 wonthe lottery andquit her job. Sheis not seeking anew job.Choose...Choose...Choose...(▶Choose...Not in the Labour ForceFrictional unemploymentStructural unemploymentCyclical unemployment How will each of the following scenariosimpact the market for labourThe income tax rate is increased.Impact ondemand forlabourImpact onsupply oflabourImpact onwage rateChoose...Choose...Choose...Impact onemployment Choose...levelChoose...shift outwards / to the rightincrease wage ratewage rate unchangedcurve unchanged (movementalong the curve)employment unchangeddecrease wage rateshift inwards / to the leftdecrease employmentincrease employmentOOOOOOO

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In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Worker 3 won the lottery and quit her job. She is not seeking a new job. Choose... Choose... Choose...

In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Worker 3 won the lottery and quit her job. She is not seeking a new job. Choose... Choose... Choose...

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 7P

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