Which of the following people can be described as "structurally unemployed"?(i) Mola is trained as a textile worker but is currently unemployed. He wants to work in the textile industry,which is unionized. Wages are high, but firms in this industry cannot offer jobs at lower wages due to theunion requirements. Therefore, no jobs are available.(ii) Agnes believes that she can get a better job in Alaska. Therefore, she quits her job in West Virginia and islooking for a job in Alaska.(iii) Pratt has just retired after working for 40 years in a candle-making factory.(iv) The minimum wage has just been raised, and Philomena finds that fewer jobs are available in the fast-food industry. She is unable to find a job.(v) Cary will graduate in two months, after being a full-time student for the past four years. She wants to finda job in the investment banking sector.O Mola and CaryAgnes and PhilomenaO Mola and PhilomenaAgnes and Pratt

Below are the reasons for structural unemployment: *Mismatch of skills; If the required skill is not…

Which of the following people can be described as "structurally unemployed"? (i) Mola is trained as a textile worker but is currently unemployed. He wants to work in the textile industry, which is unionized. Wages are high, but firms in this industry cannot offer jobs at lower wages due to the union requirements. Therefore, no jobs are available. (ii) Agnes believes that she can get a better job in Alaska. Therefore, she quits her job in West Virginia and is looking for a job in Alaska. (ii) Pratt has just retired after working for 40 years in a candle-nmaking factory. (iv) The minimum wage has just been raised, and Philomena finds that fewer jobs are available in the fast- food industry. She is unable to find a job. (v) Cary will graduate in two months, after being a full-time student for the past four years. She wants to find a job in the investment banking sector.

Which of the following people can be described as "structurally unemployed"? (i) Mola is trained as a textile worker but is currently unemployed. He wants to work in the textile industry, which is unionized. Wages are high, but firms in this industry cannot offer jobs at lower wages due to the union requirements. Therefore, no jobs are available. (ii) Agnes believes that she can get a better job in Alaska. Therefore, she quits her job in West Virginia and is looking for a job in Alaska. (ii) Pratt has just retired after working for 40 years in a candle-nmaking factory. (iv) The minimum wage has just been raised, and Philomena finds that fewer jobs are available in the fast- food industry. She is unable to find a job. (v) Cary will graduate in two months, after being a full-time student for the past four years. She wants to find a job in the investment banking sector.

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Economic Fluctuations, Unemployment, And Inflation

Section: Chapter Questions

Problem 3CQ

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