ECON MACRO
5th Edition
ISBN: 9781337000529
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 7, Problem 1.3P
To determine
Types of
Concept Introduction:
a. Frictional unemployment arises due to the fact that people moving from one job to another.
b. Structural unemployment refers to the unemployment that arises due to the technological or policy changes and also due to the fluctuations in the demand and supply.
c. Seasonal unemployment is the unemployment that arises due to the mismatch between skills required and also due to the seasonal demand of products.
d. Cyclical unemployment is the unemployment that arises due to the cyclical trends in the growth and production.
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3- What type of unemployment (cyclical, frictional, or structural) applies to each of the following:
printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products.
factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.
22
: What is the name of unemployment that occurs in certain periods in the economy?a)Cyclical unemployment
B)Frictional unemployment
NS)All unemployment
D)natural unemployment
TO)Structural unemployment
16 -
: What is the name of unemployment that occurs in certain periods in the economy?
a)
frictional
B)
negative unemployment
NS)
Structural unemployment
D)
incidental unemployment
TO)
Periodical
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- Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.arrow_forwardWhat term describes the remaining level of unemployment that occurs even when the economy is healthy?arrow_forwardUnder what condition would an increase in the unemployment rate be a positive sign?arrow_forward
- What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?arrow_forwardIf many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time.arrow_forwardUsing the definition of the unemployment rate, is an increase in the unemployment rate necessarily a bad thing for a nation?arrow_forward
- Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?arrow_forwardThe U.S. unemployment rate increased from 4.6 in July 2001 to 5.9 by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?arrow_forward11 Frictional unemployment refers to: Unemployment resulting from technological change, competition and government policies. Unemployment occurs because of the mismatch between the characteristics of the labour force and the characteristics of the available jobs. Unemployment occurs due to the ups and downs in the economy resulting from the business cycle. Temporary unemployment occurs when the workers leave their present jobs and look for other jobs.arrow_forward
- 14 Below are the direct consequences of unemployment EXCEPT? Negative impact on government revenue. Decline in standard of living. Reduction in real income. The social cost leads to social deprivation such as an increase in crime and divorce rate.arrow_forward2. Describe the natural rate of unemploymentarrow_forward13. Which of the following represents the unemployment caused by a mismatch of the required job skills and that of the job seekers? a.Underemployment b.Structural unemployment c.Natural unemployment d.Frictional unemploymentarrow_forward
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