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- Many college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?What is frictional unemployment? Give examples of frictional unemployment.
- Under what condition would an increase in the unemployment rate be a positive sign?A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.Are U.S. unemployment rates typically higher, lower, or about the same as unemployment rates in other high-income countries?
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