The persons who are laid off when a supermarket closes because the manager did not run the business efficiently are considered to be Select one: O a. frictionally unemployed. O b. cyclically unemployed. O c. marginally unemployed. O d. structurally unemployed. O e. seasonally unemployed.

The persons who are laid off when a supermarket closes because the manager did not run the business efficiently are considered to be Select one: O a. frictionally unemployed. O b. cyclically unemployed. O c. marginally unemployed. O d. structurally unemployed. O e. seasonally unemployed.

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 5SCQ: Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big...

See similar textbooks

Related questions

Q: Structural unemployment is sometimes said to result from a mismatch between the job skills that…

A: In an open economy, trade plays an important role as the speciality of workers determine traded…

Q: Suppose a workers' union managed to sign a new wage contract with the employer for a 5% nominal wage…

A: Here, it is given that the workers' union signed a contract with employer to have a 5% increase in…

Q: Discouraged workers are officially a. in the labor force. O b. unemployed. O c. not in the labor…

A: The economies around the globe tend to have various entities, which are in the form of households,…

Q: Total Currently employed Not working and Want to work but no population (millions) looking for work…

A: Here, information about total population, working, looking for work, and not looking for work is…

Q: In 2019 in the United Kingdom, the adult population was about 65 mallion, the lAE percent, and the…

A: Labor force equals employed plus unemployed workers in the economy.

Q: Refer to the information provided in Table 22.3 below to answer the question(s) that follow Table…

A: Labor force= employed + unemployed 90000+5000 95000

Q: Unemployed 17 Total Population 185 Full time Workers 90 Discouraged Workers 14 Part Time Workers…

Q: Suppose that the hourly wages in 1960 and 2002 were respectively 7.21 and 8.65 dollars per hour. If…

A: Hourly wage in 1960 = $7.21 Hourly wage in 2002 = $8.65 CPI 1960 = 100 CPI 2002 = 71

Q: The biases in the CPI are Select one: O a. not important since they are so small. O b. not important…

A: A consumer price index is a price index, the price of a weighted typical market crate of consumer…

Q: According to the data above, cyclical unemployment is 0% O A. Ò B. 2.38% OC. O C. 5.55% 6.25% O D.

A: The unemployed is the number of people which would result in the number of people unemployed to the…

Q: If the number of unemployed equals 10,000, the number of employed equals 70,000, and the number not…

A: The labor force participation rate is measure of an economy’s active workforce.

Q: If the number of people unemployed is 100, the number of people employed is 1000, and the…

A: The unemployment rate is the percentage of the total labor force that is unemployed but actively…

Q: Not in the Labour Force Unemployed Employed Male Female Male Female Male Female 45 million 35…

A: Unemployment rate = total unemployedtotal labour force People who are outside the labour force is…

Q: Former cane cutters in the once thriving sugar industry are now Select one: O a. seasonally…

A: Int he sugarcane Market, labor was needed to cut the harvest so that a Producer can sell it in the…

Q: If you graduate college and decide to take your time looking for a job even though you can find one…

A: There are three types of unemployment: frictional unemployment, structural unemployment and cyclical…

Q: If an unemployed person quits looking for work, then, eventually the unemployment rate Select one: O…

A: Unemployed person means who is not employed and actively looking for job .

Q: Que In the context of the job-search model seen in class, if the economy is in the steady-state…

A: PLEASE FIND THE ANSWER BELOW.

Q: Sons who dl d Super the manager did not run the business efficiently are c be Select one: a.…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you as per…

Q: Unemployment means that Select one: O a. people are not willing to work at the going wage rate. O b.…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Tamara lost her job as a cashier in the retail store when the store went out of business due to a…

A: Tamara lost her job because of change in business conditions. When there is change in business cycle…

Q: The unemployment rate at full employment is O a. equal to the rationed rate of unemployment. O b.…

A: Full employment = Natural rate of unemployment Natural rate of unemployment = Frictional +…

Q: 12) The unemployment rate is calculated as follows: O A. Unemployment Rate = Number of Unemployed…

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

Q: Total Currently employed Not working and Want to work but no population looking for work longer…

A: Employment is a legally binding agreement between two persons, one of whom is the employer and the…

Q: Assume that in the population, 95 millic people worked for pay last week, 5 milli people did not…

A: Labor force is the sum of people who are employed and unemployed. Employed are those people who are…

Q: What is full employment? Full employment is defined as a situation in which O A. the unemployment…

A: Unemployment is the situation in which the people are willing to work at the prevailing market wage…

Q: The CPI overstates inflation because the average consumer buys O A. the same basket of goods every…

A: The CPI overstates inflation because the typical consumer buys... less of these goods whose relative…

Q: Assume that the population is 40 million, the labour force is 20 million, and 18 million people are…

A: The unemployment rate is the percentage of the total labor force that is unemployed but actively…

Q: Category Number of people Labor force 10,000 Employed Working-age population 9,000 12,000 In the…

A: Unemployment rate can be calculated by using the following formula.

Q: Assume that an economy has the following population data: Total adults over age of 16 year: 243…

A: Number of people unemployed = Total Population in Labor Force - Total Employed Population = 155…

Q: What happens in the labor market when the following event occurs? Suppose that the number of jobs in…

A: The labor market refers to the supply and demand for labor. The number of labor willing to work…

Q: Category Number of people 10,000 Labor force Employed Working-age population 9,000 12,000 In the…

A: Labor force includes both employed and unemployed workers.

Q: Based on our understanding of the labor market model, an increase in oil price will make, Select…

A: The labor market is the market that comprises of demand and supply of labor. The employer sets the…

Q: In recent years, unemployment rates in several European countries have been higher than unemployment…

A: The unemployment rate in the United States (US) and Europe differs for a variety of reasons. First,…

Q: Suppose the unemployment rate is 4.8 percent, the labour force participation rate is 62 percent, and…

A: Given:- Unemployment rate=4.8 percent or can say 0.048 Labour force participation rate=62 percent or…

Q: Suppose that next year 150,000 existing jobs in the economy are eliminated through layoffs and plant…

A: Given information: 150,000 existing jobs in the economy are eliminated through layoffs and plant…

Q: Answer the attached question

A: A layoff happens when a worker's job term is canceled, either immediately or permanently, due to…

Q: In Germany, banks are paying a positive interest rate on peoples' savings, as a result O a. Savers…

A: Lower rates of interest discourage people from making savings while higher rates of interest…

Q: If the unemployment rate is 8 percent, then this means: the number of unemployed persons equals 8…

A: Unemployment rate = Number of people unemployed / Labor force, where Labor force is the number of…

Q: Q1) Individuals are counted as unemployed if they have Select one: O a. no job O b. no job and…

A: Employment refers to the economic term that provide information about the number of people who are…

Q: In 2014, some European countries were dealing with a recession. Workers who were laid off in those…

A: Cyclical unemployment occurs due to the business cycle in the economy . When there is a recession,…

Q: In the Okun's Law equation u - Ut-1 = -0.4(g,y - 3%), for the unemployment rate to fall by 2%,…

A: Given: The Okun's law equation is: ut - ut - 1 = -0.4gy - 3% The unemployment rate falls by = 2% To…

Q: Taylor lost his job as a welder due to the introduction of robotic welding machines. Select one: O…

A: Taylor lost his job as a welder due to the introduction of robotic welding machine. Here Taylor can…

Q: n Completion Status: E. frictional, cyclical, and structural unemployment. QUESTION 6 Suppose an…

Q: If the nominal wage is higher than real wage, it should be that O Prices are increasing and then…

A: Nominal wages are wages expressed in a monetary form while real wages are adjusted for inflation.

Q: The above table shows some labor market data for a country. Potential GDP in this country is Yp =…

A: The gross domestic product (GDP) of an economy is defined as the market value of all the final…

Q: If the population of a country is 1,000,000 people, its labor for consists of 500,000, and 40,000…

A: Gradually we can say that unemployment refers to the situation in which actually people are…

Q: The amount of job-search unemployment increases when O A. the efficiency wage rate rises O B. a…

A: In an economy, workers who are unemployed usually required to report on their search for a job to…

Q: Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the…

A: Labor force is the sum of employed and unemployed. Unemployment rate refers to the percentage of…

Q: Based on our understanding of the labor market model, the new labor law in China which increases the…

A: Under the new labor law, workers are technically guaranteed the right to a 40-hour work week with…

Q: When the quantity of labour supplied exceeds the quantity of labour demanded, the result is called:…

A: Unemployment is the phenomenon which explains about the people who are willing and able to work but…

Question

The persons who are laid off when a supermarket closes because the manager did not run the business
efficiently are considered to be
Select one:
O a. frictionally unemployed.
O b. cyclically unemployed.
O c. marginally unemployed.
O d. structurally unemployed.
O e. seasonally unemployed.

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

Suppose the working-age population is 50 million, the labour force is 20... Suppose the working-age population is 50 million, the labour force is 20 million, and the unemployment rate is 15 per cent. The number of unemployed people is a. 4.5 million. O b. 7.5 million. O C. 10.5 million. O d. 1.5 million. O e. 3 million.
Q1) Individuals are counted as unemployed if they have Select one: O a. no job O b. no job and are not looking. O c. no job but looked for a job at least once in the last four weeks. O d. no job but looked for a job at least once in the last six months. Q2) Which of the following is not a topic studied in Macroeconomics Select one: O a. Unemployment O b. Gross Domestic Products (GDP) O c. None of the options O d. Inflation
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?
Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people losetheir jobs and remain unemployed for exactly one month; one month later, they find new jobs andbecome employed. In addition, on January 1 of each year, 20 people lose their jobs and remainunemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose theirjobs and remain unemployed for 6 months before finding new jobs.1. What is the unemployment rate in this economy in a typical month?2. What fraction of unemployment spells lasts for one month? What fraction lasts for six months?3. What is the average duration of completed spell of unemployment?4. On a particular date, what fraction of the unemployed are suffering a long spell (six months) ofunemployment? plz solve part 4 ? Thanks.
Q. 1. For this question, assume that Y = N. Based on our understanding of the labour market model presented in Chapter 6, we know that a reduction in the markup will cause: Select one : O. a. no change in the natural level of output. O. b. no change in the natural level of employment. O.c.an increase in the natural level of output. O.d. a reduction in the natural level of output. O. E. reduction in the natural level of employment Q. 2 Assume that investment does NOT depend A reduction in government spending will cause which of the following for this economy? Select one: O.a. an increase in investment Ob. a decrease in investment O.c. No change in the interest rate. O.d. No change in output. O.e No change in investment Q. 3 Based on our understanding of the labour market model presented in Chapter 6, we know that a reduction in the markup will cause: Select one: O. a. an increase in the equibrium real wage O. b. a reduction in the equilibrium real wage. O. c. a…
Please no written by hand solutions Suppose that the markup of goods prices over marginal cost is 5%, and that the wage-setting equation is W= P(1-u), where u is the unemployment rate. a. What is the real wage, as determined by the price-setting equation? b. What is the natural rate of unemployment? c. Suppose that the markup of prices over costs increases to 10%. What happens to the natural rate of unemployment? Explain the intuition behind your answer.
Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?
A. Employment at will tends to raise the unemployment rate O. True O. False B. The minimum wage lowers the price of labor from the market wage to the minimum wage, and as labor becomes less expensive, firms increase employment from market employment to minimum wage employment O. True O. False
Consider 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.
Do solve both parts Suppose the labour force of an economy is equal to 1,000 and the unemployment on December 2010 is 0. Then, suppose that in January 2011 and every month that follows, 79 workers become unemployed for 1 month, 42 become unemployed for 2 months, 27 become unemployed for 3 months and 12 become unemployed for 15 months. 1. At the steady state, what is the unemployment rate? Answer in percentage rounded to the nearest first decimal. 2. What is the average duration in months at the steady state? Round to the nearest first decimal.
a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…
What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?