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- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?Unemployment rates have been higher in many European countries in recent decades than in the United States. Is the main reason for this long-term difference in unemployment rates more likely to be cyclical unemployment or the natural rate of unemployment? Explain briefly.Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?
- Reductions in employment in the U.S. auto industry caused by the increased adoption of new technologies to produce cars more efficiently is an example of: Select one: r: B a. structural unemployment. The Metho onceptual O b. frictional unemployment. Reflectio Scenari OC. seasonal unemployment. loyment w and e Od cyclical unemploymentAre the following workers more likely toexperience short-term unemployment or long-termunemployment? Explain.a. a construction worker who is laid off because ofbad weatherb. a manufacturing worker who loses his job at aplant in an isolated areac. a stagecoach-industry worker who is laid offbecause of competition from railroadsd. a short-order cook who loses his job when a newrestaurant opens across the streete. an expert welder with little formal education wholoses his job when the company installs automaticwelding machineryConsider a broom factory that permanentlycloses because of foreign competition. If thebroom factory’s workers cannot find new jobsbecause their skills are no longer marketable,they are classified asa. seasonally unemployed.b. frictionally unemployed.c. structurally unemployed.d. cyclically unemployed.
- rhe most significant real economic cost of high unemployment is: a) the potential goods and services that might have been produced but weren't b) the money cost of retraining persons to obtain new jobs c) lost tax revenue that might have been paid by persons if they had worked d)the money cost of unemployment insurance payments to the unemployedStructural unemployment is sometimes said toresult from a mismatch between the job skills thatemployers want and the job skills that workers have.To explore this idea, consider an economy withtwo industries: auto manufacturing and aircraftmanufacturing.a. If workers in these two industries requiresimilar amounts of training, and if workers atthe beginning of their careers can choose whichindustry to train for, what would you expect tohappen to the wages in these two industries? Howlong would this process take? Explain.b. Suppose that one day the economy opens itselfto international trade and, as a result, startsimporting autos and exporting aircraft. Whatwould happen to the demand for labor in thesetwo industries?c. Suppose that workers in one industry cannot bequickly retrained for the other. How would theseshifts in demand affect equilibrium wages both inthe short run and in the long run?d. If for some reason wages fail to adjust to the newequilibrium levels, what would occur?The statements given reflect either Micro or Macroeconomic issue. indicate in each case which you think is applicable. 1. The governor of the SARB recently announced a decrease in the repo rate( interest Rate) 2. consumption by south african household decreased in the first quater of 2020.